OK Corporation aims to acquire Kansai Super Market Ltd. (TSE:9919) it was learned on September 02, 2021. Earlier this week, Kansai Super Market announced an agreement to combine with two supermarket operators under the wing of H2O Retailing Corporation (TSE:8242), its top shareholder. OK and H2O are now likely to compete for control of Kansai Super Market, with the domestic market expected to shrink due to falls in the population.

OK plans to oppose Kansai Super Market's business integration plan with the H2O group at an extraordinary shareholders' meeting of Kansai Super Market slated for Oct. 29, informed sources said. As a counterproposal, OK will launch a tender offer for Kansai Super Market to acquire a controlling stake in the company, the sources said.