White & Case and Nishimura & Asahi have been advising on investment firm Yamauchi-No.10 Family Office’s unsolicited takeover bid for Tokyo Stock Exchange-listed marine construction company Toyo Construction for $654 million.
Yamauchu-No.10, which manages nearly $1.5 billion of assets for members of Nintendo’s founding family, is currently Toyo’s largest investor with a 28.51% stake. Last month, the asset manager, advised by White & Case, succeeded in replacing a majority of Toyo’s board of directors with seven of its nine nominees approved by the marine construction firm’s shareholders.
