Mitsubishi Logistics to Seek Majority Stake in Fuji Logistics, Nikkei Says

Mitsubishi Logistics Corp. is poised to begin a tender offer for a stake of more than 50 percent in Fuji Logistics Co. in a transaction that may total 10 billion yen ($115 million), Nikkei English News reported, without citing anyone.

Fuji Electric Holdings Co., which owns 27.4 percent of Fuji Logistics, and Toyota Industries Corp., which has 26 percent, will back the proposal, Nikkei said.

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