UK supermarket leader Tesco has said it has received enough shares in its bid for Japanese retailer C Two-Network to meet its 66.7% acceptance condition.
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The tender, which opened on 11 June, closed today [Thursday] and the final results are to be announced on Friday, reported Reuters.
Last month Tesco announced it was to enter the Japanese food retail sector with its ¥32.8bn (US$278.5m) offer for the Japanese retailer. Successful completion of the deal may result in the delisting of C Two-Network, Tesco said.
