Cerberus Plans To Raise Stake In Seibu In IPO Shake-Up

Law360, New York (March 11, 2013, 7:57 PM EDT) -- Private equity firm Cerberus Capital Management LP reportedly plans to raise its stake in Japanese railway and hotel company Seibu Holdings Inc. by up to 4 percent in an effort to “shake up” the Japanese company's board.

Cerberus, which is already the biggest shareholder in Seibu Holdings, is considering installing new directors and increasing its stake to more than 33 percent, the Wall Street Journal reported Friday.

The move would reportedly give the private equity firm veto power over major proposals from the board, and Cerberus...
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