Steel Won't Buy Tenryu Saw
Steel Partners has failed in its attempt to take over Tenryu Saw Manufacturing. Only 2.6% of shareholders agreed to sell their shares. As Bloomberg reports, the setback comes on the heels of Steel's failure to buy Bull-Dog and follows a long string of unsuccessful takeover attempts, including Yushiro Chemical Industry Co., noodle maker Myojo Foods Co. and brewer Sapporo Holdings Ltd.