Idemitsu extends tender offer for Toa Oil amid fund pressure

MOSCOW (MRC) -- Japanese refiner Idemitsu Kosan Co said on Friday it had extended its public tender offer for a smaller rival, Toa Oil Co, in which a US investment fund has been building up a stake, reported Reuters.In a statement to the Tokyo Stock Exchange, Idemitsu said the tender would run until Feb. 15, as Toa Oil had revised its earnings forecast.Idemitsu launched the tender in Dec

Full article at mrcplast.com