Osaka Exchange Holder Says Tokyo Bourse Bid Too Low
27 Juli 2012 - 3:20AM
Dow Jones News
Jupiter Asset Management Ltd., which owns 1.2% of Osaka
Securities Exchange Co. (8697.OK), will reject Tokyo Stock
Exchange's Y480,000-a-share offer for the Osaka bourse unless the
price is raised, Bloomberg News reported Friday on its website,
citing Simon Somerville, manager of Jupiter's Japan Income
Fund.
"We're certainly not going to support the deal in its current
form," Bloomberg quoted Mr. Somerville as saying in an interview.
"The price isn't right. TSE is being valued 50 to 60% higher than
OSE in the terms of this deal. The problem at the moment is that
the value's all in Osaka, not in Tokyo."
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