Don Quijote Co. made a surprise announcement Wednesday that it had acquired a 15.28 percent stake in Origin Toshu Co., refusing to give up its quest for the chain of 24-hour boxed-meal stores.
The reversal came after a takeover bid launched by the discount retailer last week failed in the face of a better offer from retailing titan Aeon Co., which has offered to be a white knight for Origin. Aeon's offer is to end March 1.
Don Quijote said it holds a 46.21 percent stake in the firm and hopes it can acquire Origin to usher in a new age of convenience.