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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

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.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now