SHIMACHU CO. ACCEPTS TAKEOVER BID BY NITORI HOLDINGS CO.

Highlights –

• Shimachu Co. accepts takeover bid by Nitori Holdings Co.
• Nitori offered to buy Shimachu at a price than DIY rival DCM Holdings Co.
• Nitori is offering $52 per Shimachu share from Monday to Dec.28.
• Shimachu Co. has about 60 shops in urban areas of Japan.

Home improvement retailer Shimachu Co. on Friday announced that the company has accepted ....