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Japanese court puts Kansai's H2O Retailing merger on hold

TOKYO -A Japanese district court on Monday granted an injunction against Kansai Super Market Ltd's planned merger with H2O Retailing Corp.

TOKYO -A Japanese district court on Monday granted an injunction against Kansai Super Market Ltd's planned merger with H2O Retailing Corp.

Supermarket operator OK Corp, which was also interested in buying Kansai Super Market, had sought the injunction over alleged irregularities with Kansai Super Market's vote counting process at the shareholder meeting that approved the deal.

OK Corp released a statement welcoming the court's decision.

Kansai Super Market said in a separate statement that it plans to ask the court to reconsider the injunction. "The decision is highly disappointing," it said. REUTERS

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