JAL Proposes Takeover Bid for AGP "ANA Holdings and Airport Building Not in Favor"

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On the 23rd, Japan Airlines (JAL) announced its position on the proposed takeover bid (tender offer) by Macquarie Group, a major Australian financial services company, for AGP, an equity method affiliate of JAL. JAL, the largest shareholder of AGP, said it "has no plans to apply for the takeover bid." At AGP's annual general meeting of shareholders to be held on June 26th, JAL is proposing to take AGP private through a share consolidation. JAL, …