Ozeki to Go Private Via MBO

Ozeki Co., a Tokyo-based supermarket operator, announced that it will become a privately owned stock company through a management buyout. A company established by Ozeki Chairman and President Sumie Ishihara will launch a tender offer for Ozeki for 3,750 yen, about 24% premium over its Friday's closing price. The president's firm will spend about 43.8 billion yen ($438 million) to purchase 11,704,080 shares, with the minimum amount set as 8,832,190 shares. Ozeki will be delisted from the second section of the Tokyo Stock Exchange.