TOKYO (XFN-ASIA) - Asahi Breweries Ltd will propose a business and equity tie-up to rival Sapporo Holdings Ltd, which has become the target of a takeover attempt by US investment fund Steel Partners, the Nikkei reported, without citing sources.
On Thursday, Sapporo received a friendly takeover bid from US-based Steel Partners, one of its leading shareholders with a roughly 18 pct stake.
Asahi is expected to offer to acquire Steel Partner's holdings, the business newspaper said.
Asahi and Sapporo originally come from the same company, the former DaiNippon Beer Co, which split in 1949, the Nikkei reported.
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