In an unusual-for-Japan hostile takeover bid, Itochu made an unsolicited partial tender offer for another 9.56% of Descente stock, which would increase its holdings in the company from 30.44% to 40.00%. Itochu is Descente’s largest shareholder and even controlled its management up until 2013, when Descente’s founding family re-asserted control of its board of directors. Itochu has upped its stake from 25% to the current ... Log in to view full article.