GMO Internet Inc (9449.T)
20 Mar 2018
Fri, Jan 19 2018
* Oasis holds 5 pct of GMO Internet's shares (Updates with market reaction, comments from GMO)
TOKYO, Jan 19 Japan's Nikkei share average edged up on Friday morning with financial stocks leading the gains after U.S. yields rose, while GMO Internet soared after an activist fund called on the company to abolish its takeover defences and reduce the power of its founder.
TOKYO, Jan 19 Hong Kong-based activist investor Oasis Management Company has proposed that Japanese internet and cryptocurrency firm GMO Internet reduces the power of its founder and abolishes its takeover defences.
* Says it will merge with three units, GMO Gamepot Inc., Syncloud, Inc and Tokyo-based mobile entertainment firm, effective Dec. 1
* Says it will retire 847,790 shares (0.7 percent of outstanding) of its common stock on Oct. 30