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BENTONVILLE, Ark. -- Wal-Mart Stores, Inc. said yesterday that its tender offer to acquire all of the issued and outstanding shares of its Japanese subsidiary, the Seiyu, Ltd., has raised its ownership from 50.9 percent to 95.1 percent. In addition, all preferred shares not already held by Wal-Mart were tendered.
"This successful result paves the way to achieve our stated goal of full ownership of Seiyu,î said Mike Duke, vice chairman of Wal-Mart, in a statement.
The tender offer commenced on Oct. 23, 2007, and closed on Dec. 4. Settlement for tenders received will commence on Dec. 11.