Idemitsu, Showa Shell to Delay Merger Opposed by Family

Updated on
  • Shares of both companies tumbled following Nikkei report
  • Idemitsu founding family opposes merger with rival Showa Shell

Japanese refiner Idemitsu Kosan Co. will delay a planned April 2017 merger with domestic rival Showa Shell Sekiyu K.K. amid opposition from a key shareholder.

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