A few thoughts:
It has profited some from firms hiking their dividends, but it was slapped back last year when a Tokyo court backed the use of a "poison pill" anti-takeover defense by sauce maker Bull-Dog Sauce Co <2804.T> to thwart the fund's bid.
When will the media realize that Steel Partners actually made a killing on that bid? And isn’t that the point of it all?
ADD: Does the writer really think that it’s the dividends that Steel Partners are after?
Blocking the reappointment of board members will be seen as a landmark win for the fund.
It will be a “landmark win” for Steel Partners only if it cashes out with profits.
Since when is the largest shareholder a minority shareholder? Something got lost in translation.
Seriously, in a land where hair transplants have never really caught on, wigs are big, and Aderans is the bigwig of wigs. Still, it’s a big fish in a small pond. In fact, the four other companies mentioned as Steel Partners targets—brewer Sapporo Holdings Ltd, confectionery maker Ezaki Glico, false teeth maker Shofu Inc, and spice producer House Foods Corp—are more or less in the same fishpond*. Basically limited to the domestic market, they’re all small enough to catch, yet big enough to make the chase worthwhile.
Now if someone went after Hitachi, this would be a whale of a catch.
* Okay, Shofu Inc. is probably small fry, but you see my point.
ADD. 12 July 2008: I received a proposal for a linkage exchange from Legal Ace, a legal documentation firm. Legal Ace appears to be a legitimate business with a real-world office, and it is somewhat flattering to have this specific post called a "resource". So here goes:
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