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Nissin Buys 86% Stake in Myojo After Steel Partners Offer Fails By Yasue AoiDec. 15 (Bloomberg) -- Nissin Food Products Co., Japan's largest instant noodle maker, said it acquired an 86 percent stake in Myojo Foods Co. for 32 billion yen ($271 million) after an offer by U.S. investment fund Steel Partners failed. ``Myojo will become a unit of Nissin as of Dec. 22,'' Nissin said in a statement to..
TOKYO (AP) - Japanese instant noodle maker Myojo Foods Co. said Tuesday it is opposed to a takeover bid launched by Steel Partners Japan, saying it would rather implement its own business plans.Steel Partners launched a 29.82 billion yen (US$253.96 million; euro199.7 million) takeover bid for Myojo Foods on Friday, still a rare move in a country where consensus and negotiation, not direct appeal..