Japan's Nitori considers hostile bid for Shimachu, Nikkei reports

Japanese furniture retailer Nitori Holdings Co is considering making a bid for Shimachu Co that would challenge an offer for the home improvement retailer made by DCM Holdings, the Nikkei business daily reported.

Adds details from Nikkei report, DCM's tender offer

TOKYO, Oct 20 (Reuters) - Japanese furniture retailer Nitori Holdings Co 9843.T is considering making a bid for Shimachu Co 8184.T that would challenge an offer for the home improvement retailer made by DCM Holdings 3050.T, the Nikkei business daily reported.

DCM said this month it was seeking to buy smaller rival Shimachu at 4,200 yen ($39.74) a share for a total 164 billion yen.

Shimachu, whose shares closed at 4,195 yen on Tuesday, has said it supports DCM's bid. This would make any bid by Nitori hostile, Nikkei reported.

The tender offer started on Oct. 5 and was to run until Nov. 16.

All three companies could not be reached for comment outside business hours.

($1 = 105.6800 yen)

(Reporting by Chang-Ran Kim; Editing by Edmund Blair)

((ran.kim@thomsonreuters.com; +81-3-4563-2740;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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