Summit Notebook

Exclusive outtakes from industry leaders

Japan eyes UK takeover rules


Japan’s takeover rules are destined to be shaken up — but probably not for some time.

The government wants to adopt Britain’s takeover rules rather than base policy on the U.S. model.

Hiroaki Niihara, director of the corporate system division at the Ministry of Economy, Trade & Industry, told the Reuters Japan Investment Summit that current rules make it too easy to defend against approaches and are bad news for minority shareholders.

A “poison pill” takeover defence by Bull-Dog Sauce Co in 2007 showed up shortcomings, he said.

IBM: No Sun, but there are other fish in the sea


IBM’s Chief Financial Officer Mark Loughridge didn’t have much to say about Oracle’s planned purchase of Sun Microsystems at the Reuters Global Technology Summit.

I don’t see that much has changed in this. They have been partnering for decades. It doesn’t fundamentally change the position” in the industry.