KKR Bid to Take Yomeishu Private Is Derailed By Top Shareholder

KKR & Co.’s bid to take Yomeishu Seizo Co. private has been scuttled because the Japanese herbal tonic maker’s top shareholder doesn’t intend to sell its stake.

Yomeishu said it terminated exclusive talks with KKR after determining that the proposal couldn’t succeed because of shareholder Yuzawa KK’s position. The announcement came just half a day after Yomeishu confirmed that it had given first negotiating rights to KKR for a buyout.