Japan's Itochu boosts FamilyMart stake despite criticism over offer

Japan's Itochu boosts FamilyMart stake despite criticism over offer

FILE PHOTO: The signboard of a joint FamilyMart/Don Quijote convenience store is pictured in Tachikawa, Tokyo, Japan June 1, 2018. REUTERS/Sam Nussey/File Photo

Japanese trading house Itochu Corp boosted its stake in convenience store chain FamilyMart Co to about two-thirds after a $5.5 billion tender offer that was criticised by some activist investors as being too low.

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