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新株予約権発行で対抗
ニッポン放送は2月23日、ライブドアによる株式公開買い付けに対抗する措置として新株予約権を発行し、フジテレビに与えることを発表した。
NBS issues Fuji TV options
Nippon Broadcasting System Inc. (NBS) said Feb. 23 it would issue Fuji Television Network Inc. fresh share options to counter a takeover bid from Livedoor Co.
The controversial move is designed to allow Fuji TV to make NBS a subsidiary and weaken the influence of Internet firm Livedoor on the radio broadcaster.
Nippon Broadcasting "will remain as part of the Fujisankei Communications Group," NBS President Akinobu Kamebuchi said. "If Livedoor becomes our parent, our corporate value will be gravely damaged."
The share-purchase warrants, worth ¥15.87 billion, will give Fuji TV the exclusive right to purchase 47.2 million new shares - a majority stake - by late June. The new shares amount to more than 1.4 times Nippon Broadcasting's existing shares.
The new shares will dilute Livedoor's stake in Nippon Broadcasting from a little over 40 percent to about 16 percent. Livedoor would need a one-third stake to veto important decisions at shareholders' meetings.
But legal experts said new share warrants are usually issued to improve a company's financial standing or expand its business, not to stop a takeover. The NBS move may be illegal under the Commercial Code. (The Japan Times)
Shukan ST: March 4, 2005
(C) All rights reserved
- NBS(=Nippon Broadcasting System)
- ニッポン放送
- issues
- 発行する
- (fresh share)options
- 新株予約権(所定の価格で株式を取得できる権利)
- counter
- 対抗する
- takeover bid
- 株式公開買い付け
- controversial
- 異論のある
- is designed to 〜
- 〜することを意図している
- subsidiary
- 子会社
- parent
- 親会社
- corporate value
- 企業価値
- gravely
- 大きく
- share-purchase warrants
- 株式取得権
- exclusive right
- 独占権
- majority stake
- 過半数を超える株
- amount to 〜
- 〜に達する
- existing
- 既存の
- dilute
- 下げる
- veto
- 拒否権を行使する
- shareholders' meetings
- 株主総会
- financial standing
- 財務状況
- expand its business
- 事業を拡大する
- Commercial Code
- 商法