Hedge Fund Honchos Predict Mass Move on Japanese Firms

The hostile bidding on two Japanese companies by a U.S.-based hedge fund may trigger other investors to try and do the same, according to hedge fund managers speaking at a New York press conference Thursday, Reuters reports.

Steel Partners Japan Strategic Fund unsuccessfully attempted to purchase Japan-based Yushiro Chemical Industry and also textile firm Sotoh, but the idea that they even attempted it may have begun a trend, managers said.