Japan Battle for Ootoya Ends With Hostile Bid Victory for Colowide

In a hostile takeover bid that centered on the role of kitchens at a Japanese eatery, Colowide Co. has shown it can stand the heat.

Colowide confirmed Tuesday that it had succeeded in its unsolicited offer to take control of Ootoya Holdings, a well-known operator of restaurants that serves cheap, traditional Japanese food. Colowide, which runs multiple restaurant chains, wants to integrate Ootoya into its network of central kitchens — hubs that can serve multiple restaurants at once — a step Ootoya management and a group of employees rejected, saying it would be detrimental to its business.