Unison Capital raises Aderans Offer to Thwart Steel Partners

May 25th, 2009
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Private equity firm Unison Capital has raised its offer to purchase a 35% stake in Aderans Holdings (8170.T). As reported by Reuters, the new offer is 1,200 yen per share, which is 20% higher than its previous offer.

Activist hedge fund manager Steel Partners, which is currently the largest shareholder of Aderans and opposed Unison’s involvement, has been pushing for change at the Japanese wig maker. This Thursday, at Aderans’ annual meeting, shareholders will have the opportunity to vote on the much publicized battle.
See Press Release
For Detailed Investor Profiles on these Investors, click below:
Steel Partners
Related People: Joshua Schechter; Lawrence Butler; Warren G. Lichtenstein
Related Entities: Steel Partners; Steel Partners II Master Fund LP; Steel Partners Japan Strategic Fund; Steel Partners LLC; WebFinancial LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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