Pursuits
Japan Global M&A Brings Risks as Funds Sell Lixil Convertibles
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Lixil Group Corp. is being punished in the convertible bond market after becoming the latest Japanese company to stumble seeking growth with overseas acquisitions.
Aviva Plc is among investors selling the housing material company’s 2020 equity-linked notes, which slumped 5.4 percent from a peak in March after it reported accounting irregularities at its German unit. Tokyo-based Lixil said Thursday its subsidiary, Joyou AG, which mainly operates in China, is considering whether to file for bankruptcy.