The Japanese trading company has completed its tender offer to gain a controlling stake in the sportswear manufacturer, wrapping up the offer period on Oct. 30 with settlement set for Nov. 6. Itochu purchased the shares through BS Investment Co., its wholly-owned subsidiary focused on textile industry investment. Through BS Investment it previously held 33.6 million shares in Descente, or 44.4%, which now tallies 64.9 million shares, or 85.9%. Itochu will now look at squeeze-out options to delist the minority-owned shares from the Tokyo Stock Exchange. ... Log in to view full article.