Steel Partners Wants Sapporo to Hire I-Bankers

July 9th, 2008
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Steel Partners is demanding that Japanese beer maker Sapporo Holdings to hire an investment bank to explore strategic options, which may include a sale or split-up of operations. Steel Partners is presently the company’s largest shareholder with an 18.6% stake.

The hedge fund has been engaging Sapporo’s management since February of 2007 when it attempted to purchase a majority stake in the business. Steel has reduced there ownership demands and is now seeking a 33% stake in the business.

Sapporo's board has repeatedly rejected Steel Partners’ offers to increase their ownership stake to above 20%.
For Detailed Investor Profiles on these Investors, click below:
Steel Partners
Related People: Joshua Schechter; Lawrence Butler; Warren G. Lichtenstein
Related Entities: Steel Partners; Steel Partners II Master Fund LP; Steel Partners Japan Strategic Fund; Steel Partners LLC; WebFinancial LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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