Shares of Credit Saison (8253) jumped 11%, while Orix [[IX]] (8591) rose a muted 3%, on the report of merger talks. (See Reuters clip below). HOWEVER, shares of both have fallen sharply over the past year (there’s even more red over the past two years) compelling one to wonder why an alliance wasn’t formed earlier. [...]
Archive | August 5, 2008
‘I scratch your back, you scratch mine’
Mixed signals, as always, from Japan. Activist investors are making some ground, most notably in Steel Partners v. Aderans (8170). Still, the climate for M&A and shareholder value unlocking investors is not made any easier by more expansive cross-shareholdings. A more concerted effort is needed by METI, FSA, TSE and the business lobbies. (See Reuters [...]
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