Asahi Stays Vague On Rumored $1.25B Beverage Co. Deal

Law360, New York (May 7, 2012, 7:03 PM EDT) -- Japanese beverage maker Asahi Group Holdings Ltd. offered no hint Monday on whether it had made progress on a rumored bid to acquire Calpis Co. Ltd. from Ajinomoto Co. Inc. in a deal reportedly worth up to 100 billion yen ($1.25 billion).

In a brief statement posted on the Tokyo Stock Exchange, Asahi acknowledged Monday that “there have been reports” that it had struck a deal with Ajinomoto, but did not confirm or deny the rumors.

Instead, Asahi said only that the company has not made...
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