Elliott again ups stake in Japan's Hitachi Kokusai after KKR raises offer price

REUTERS/Yuya Shino

U.S. hedge fund Elliott Management Corp has raised its stake in Japan’s Hitachi Kokusai Electric to 8.59 percent from 7.11 percent, a regulatory filing showed, one of several such hikes since it first disclosed a stake in the firm last month.

The filing comes after KKR & Co LP increased its offer price for the Hitachi Ltd unit to 2,900 yen ($25.80) a share from 2,503 yen, improving the bid after a third-party committee reporting to Hitachi Kokusai said it did not support the initial terms.

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