• Kyodo, Staff Report

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Major retailer FamilyMart Uny Holdings Co. said Thursday it will make discount store operator Don Quijote Holdings Co. its affiliate, in a deeper capital tie-up amid intensifying competition in the shrinking domestic retail market.

FamilyMart Uny will acquire a stake of up to 20.17 percent in Don Quijote through a takeover bid of ¥6,600 a share from early November for a total of ¥211.9 billion ($1.89 billion), the two retailers said.

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