A Japanese firm vowed to fight Charles W. Knapp.
Takami Takahashi, president of Minebea Co. Ltd., a leading maker of miniature bearings and electronic parts, threatened to take “all necessary measures” to thwart a takeover by Knapp’s Trafalgar Holdings Ltd., including diluting Trafalgar’s stake by issuing new stock. In August, Los Angeles-based Trafalgar acquired an option from London-based Glen International to acquire a 23% stake in Minebea. Trafalgar’s general counsel, Mark Dodge, said the company now has a 30% stake and intends soon to present its buy-out offer to Minebea’s board. It would be the first hostile takeover attempt of a Japanese firm by a foreign company.
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