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...Four people with direct knowledge of the talks said it was Merck’s bid for JSR, which was not disclosed to shareholders, that led to the $6.4bn tender offer in June from the Japan Investment Corporation,...
...Another proxy adviser, Glass Lewis, has recommended clients support both Bock and von Bomhard....
...The discussion shows the significant restructuring multinational corporations could be forced to undertake as they adapt to growing friction between China and the US and its allies....
...The deal marks Japan’s largest overseas acquisition this year and signals that the country’s cash-rich corporations are returning to global markets as some of the world’s hungriest strategic buyers, said...
...Their sensitivity was increased by Japan’s aspiration to compete against them via Rapidus, a company created in 2022 and backed by the government and the country’s biggest corporations....
...leo.lewis@ft.com...
...bankers say is a growing wave of Japanese companies pushing for overseas acquisitions as a response to their shrinking domestic market and the geopolitical constraints Chinese groups now face in buying US corporations...
...The sum, insured by a subsidiary of the Chubb corporation, was posted on Friday in Manhattan federal court as part of an appeal against the decision....
...The deal, announced this week, highlights the sometimes extreme ways in which value can be trapped inside Japanese corporations, which traditionally have not marked the value of assets to their market value...
...Wide-awake: Bamboo pyjamas and sensors in beds — while scientists seek to explain the mechanics of sleep, businesses can keep exploiting our tiredness, writes Leo Lewis....
...It is matched by an even greater shift of focus by institutional investors, sovereign wealth funds, private equity firms and corporations — all of which are eager to make their mark in one of the hottest...
...Sources familiar with the matter said that JSR was considering a buyout proposal from the Japan Investment Corporation, overseen by Japan’s Ministry of Economy, Trade and Industry....
...The fundraising, the highest ever in a series A round in Japan, brought in heavyweights such as the state-backed Innovation Network Corporation of Japan (INCJ) and the country’s most influential venture...
...I’m Leo Lewis, the FT’s Asia business editor, standing in for Gideon Rachman while he’s on holiday....
...Leo Lewis is the FT’s Asia business editor...
...JSR’s announcement followed a board meeting on Monday to discuss the proposal from the Japan Investment Corporation, a government-backed fund overseen by Japan’s Ministry of Economy, Trade and Industry....
...The battle for Middle England John Lewis and M&S are courting the same middle-class customers. They are having differing levels of success, the FT’s Laura Onita writes....
...David Lewis, a manager of Jupiter’s Merlin range, which invests in other funds, said during an investor roadshow last week that the firm was considering pulling the money from Ben Whitmore’s mandates when...
...“This has really scared Japanese corporations....
...Sumitomo Mitsui Banking Corporation is planning to triple its stake in US investment bank Jefferies Financial Group, deepening ties between the Wall Street and Tokyo banks in an effort to compete with larger...
...Fourth, the government is now actively encouraging M&A, by planning to offer a significant tax break, starting this month, for corporations that buy domestic start-ups....
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