Itochu has made an unsolicited partial tender offer for an additional stake of 9.56 percent in Descente. If accepted, it would raise its holding in the Japanese group from 30.44 percent to 40.00 percent. Politely, Descente said it was analyzing the offer, but noted that it has been in talks with investment funds about taking the company private. Itochu is the largest shareholder in Descente, which trades publicly on the stock exchange. It already increased its stake in Descente from 25 percent last year. Itochu even controlled the company's management until 2013, when Descente's founding family regained control of the board of directors.

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