After intense 11th-hour negotiations, Rakuten Inc. and Tokyo Broadcasting System Inc. agreed Wednesday to launch talks on potential business tieups after the Internet firm withdrew its proposal to merge with the private broadcaster.
With the compromise, mediated by Mizuho Corporate Bank Ltd., the two managed to put an end to a seven-week takeover battle.
Despite the truce, there is still a possibility Rakuten may resort to an aggressive takeover bid if it isn't satisfied with the upcoming talks.