Cerberus Plan to Boost Control of Seibu Rejected by Shareholders

Cerberus Plan to Boost Control of Seibu Rejected by Shareholders

Tomohiro Ohsumi/Bloomberg

A Seibu Railway Co. train arrives at Nerima Station in Tokyo, Japan. Seibu Holdings Inc. shareholders rejected Cerberus Capital Management LP’s move to appoint its executives to the company’s board.