Oji Faces Tough Battle for Hokuetsu
The forces against Oji Paper's takeover of Hokuetsu are gathering steam. Daio Paper, one of Japan's largest paper makers, said last week the combination would violate Japan's anti-monopoly law and will file a report detailing its stance with Japan's Fair Trade Commission. In addition, Mitsubishi completed its purchase of 50 million Hokuetsu shares for a 24.4% stake in the company. Bloomberg quotes James Abbegglen:

It's become messy with all the anti-Oji movement...it will cast a very deep doubt on future takeovers. Companies will be more reluctant than in the past to attempt hostile takeovers.