Carlyle fails in its bid to take over Japan Asia Group
TOKYO (Reuters) – Global private equity firm Carlyle Group said on Wednesday it failed in its bid to buy Japan Asia Group (JAG) as JAG shares are trading above Carlyle’s offer.
Carlyle teamed up with JAG’s Chairman and Chief Executive Officer Tetsuo Yamashita in November to launch a management buyout. Carlyle raised its offer but JAG shares have traded above the offer after a Japanese activist fund backed by veteran investor Yoshiaki Murakami launched a counter bid.
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