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Fir Tree ups pressure on Japan's Kyushu Rail Co. seeking board seats, buyback

( May 20, 2019, 18:32 GMT | Official Statement) -- MLex summary: US investment firm Fir Tree Partners has reiterated its calls for board representation and share buybacks at Japan's Kyushu Rail Co. Fir Tree, which controls 6.1 percent of Kyushu's outstanding shares, has proposed the election of three director nominees and a debt issue to repurchase 10 percent of outstanding shares. A vote will be held June 21. “We are disappointed that JR Kyushu chose to oppose our three highly qualified, independent nominees," said Aaron Stern, managing director and partner at Fir Tree in a statement. “We look forward to further discussing our ideas and nominees with our fellow shareholders.”Statement follows in full....

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