Skip to Content
Global News Select

Aeon Co. Mulls Merger of Drugstore Unit Welcia With Domestic Rival Tsuruha — Update

By Kosaku Narioka

 

Aeon Co. said it is considering a merger of its Japanese drugstore unit Welcia Holdings with domestic rival Tsuruha Holdings, a move that would create a giant force in a fragmented market.

Japanese retailer Aeon, the parent of Welcia, said Monday that no decision has been made on the possible merger.

Tsuruha Holdings shares were recently 10% higher, Welcia Holdings shares were recently up 14% and Aeon shares rose 1.4%.

Aeon made the comments following local media reports of the potential merger over the weekend.

Aeon in January said it was in talks with Hong Kong-based asset manager Oasis Management to acquire shares of Tsuruha as part of efforts to strengthen its existing tie-up with the Japanese drugstore operator.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com

 

(END) Dow Jones Newswires

February 25, 2024 21:38 ET (02:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Market Updates

Sponsor Center