Japan's Aeon announces takeover bid for discount shop Can Do

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FILE PHOTO: Shoppers wearing protective face masks wait in line to enter an Aeon supermarket, amid the coronavirus disease (COVID-19) outbreak in Petaling Jaya, Malaysia June 11, 2020. REUTERS/ Lim Huey Teng
FILE PHOTO: Shoppers wearing protective face masks wait in line to enter an Aeon supermarket, amid the coronavirus disease (COVID-19) outbreak in Petaling Jaya, Malaysia June 11, 2020. REUTERS/ Lim Huey Teng

TOKYO (Reuters) - Japanese retail group Aeon Co announced on Thursday a takeover bid for Can Do Co, a popular chain offering household goods for 100 yen.

Can Do said its position on the bid was neutral, meaning it would neither back nor oppose Aeon's offer, which was priced at 2,700 yen ($23.79) per share in an initial round, followed by a second round at 2,300 yen a share. Can Do shares closed at 1,858 yen on Thursday.

($1 = 113.4800 yen)

(Reporting by Ritsuko Ando; Editing by Jacqueline Wong)

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