NAGOYA (Kyodo) Soft drink maker Pokka Corp. said Wednesday its attempt to buy more than two-thirds of its outstanding shares through a tender offer bid has effectively succeeded, setting the stage for a delisting.
The Nagoya-based company said its investment ally, Advantage Holdings Inc., succeeded in acquiring more than the two-thirds through a tender offer that began Aug. 23 and ended Tuesday. Advantage Holdings undertook the takeover bid on behalf of Pokka.
"Our company has received a report from Advantage Holdings . . . that the number of shares offered by investors to respond to the tender offer has reached the number of shares we had planned to buy," Pokka said in a statement.