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Japan's Idemitsu abandons bid for rival Toa amid U.S. fund pressure

By Reuters Staff
1 Min Read
TOKYO (Reuters) - Japanese refiner Idemitsu Kosan said on Tuesday it has withdrawn its offer for a potential acquisition of smaller rival, Toa Oil Co, in which a U.S. investment fund has been building up a stake.
Idemitsu, which already owns 50.12% of Toa, said in a statement to the Tokyo Stock Exchange that it has withdrawn from the bid as it is unable to obtain the shares required to complete the acquisition process.
The company launched the tender offer in December to buy all the shares of Toa Oil at 2,450 yen each in a deal worth 15 billion yen ($143 million). ....

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Chef Timon Balloo food truck opens at Wharf Fort Lauderdale - South Florida Sun-Sentinel

Chef Timon Balloo food truck opens at Wharf Fort Lauderdale - South Florida Sun-Sentinel
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