TWINBIRD shares surge on speculation after BUFFALO president discloses major stake
Shares of TWINBIRD CORPORATION <6897> surged on Wednesday, rebounding after BUFFALO INC. <6676> President Hiroyuki Maki emerged as a major shareholder, according to a disclosure released after market close on the 1st.
TWINBIRD expressed opposition on the 31st to a tender offer launched by Japanet Holdings, a mail-order company based in Sasebo, Nagasaki Prefecture. The stock briefly hit its daily limit-down on the 1st. The revelation of Maki's stake sparked market speculation over potential changes in ownership structure.
According to the report filed by Maki, his stake stands at 6.98%, with the reporting obligation date noted as the 1st. Under the purpose of holding, the filing states he holds the shares "in anticipation of achieving the maximization of total shareholder return." Regarding any third-party acquisition proposals for TWINBIRD, Maki stated he "supports transactions in which all shareholders can equally enjoy a control premium, and opposes procedures or transactions that harm the interests of existing shareholders, treat specific shareholders in a discriminatory manner, or anything similar."
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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