Yumeshin Holdings Co. applied for a court injunction Thursday to prevent Japan Engineering Consultants Co. from implementing a 5-for-1 stock split designed to scuttle its hostile takeover bid.
The construction management services firm filed the request with the Tokyo District Court on grounds that the stock split would undermine the interests of Japan Engineering Consultants' shareholders, officials said.
Yumeshin launched a takeover attempt for Japan Engineering on Wednesday, despite the latter's stock split plan announced earlier as an antitakeover measure.
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