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Idemitsu Kosan may buy fewer Showa Shell shares from Royal Dutch Shell than planned

( September 2, 2016, 01:33 GMT | Insight) -- Idemitsu Kosan may buy fewer shares in Showa Shell Sekiyu from Royal Dutch Shell than initially planned, the Mainichi newspaper reports. Idemitsu Kosan may buy fewer shares in Showa Shell Sekiyu from Royal Dutch Shell than initially planned, the Mainichi newspaper reports. Idemitsu Kosan, which said it would acquire 33.3 percent of Showa Shell directly from Royal Dutch Sell, is now in talks to reduce the planned stake. The move comes after the founding family of Idemitsu Kosan acquired a stake in Showa Shell in an effort to block the merger. The family’s recent purchase of about 0.1 percent of Showa Shell may significantly raise the expenses for Idemitsu Kosan as it seeks to buy Showa Shell. That’s because Idemitsu Kosan’s stake in Showa Shell, when combined with the family’s, would exceed one-third of the target company. That would require Idemitsu Kosan to buy Showa Shell shares through a tender offer, instead of directly from Royal Dutch Shell. ...

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