Mitsubishi seeks bigger stake in KFC Japan

TOKYO Mitsubishi Corp. said Wednesday that it is launching a tender offer worth at least $120.6 million and as much as $267 million to amass a controlling stake in Kentucky Fried Chicken Japan Ltd., which is operator or franchisor of around 1,500 KFC and Pizza Hut units in Japan.

Mitsubishi said it is seeking to double its 31-percent stake in KFC Japan by paying a per-share price of 1,947 yen, about $16.87, for each of the 7.15 million shares in the company that

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