Carlos Ghosn (R), Chairman and CEO of the Renault-Nissan Alliance, and Mitsubishi Motors Corp.'s Chairman and CEO Osamu Masuko arrive their joint news conference in Yokohama, Japan, May 12, 2016. REUTERS/Thomas Peter
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Nissan Motor Co. has agreed to buy a 34 percent stake in Mitsubishi Motors Corp., taking de facto control with a $2.2 billion bet that bails out its smaller, scandal-hit rival.But it should also be a boost for Nissan. Under Thursday's deal, Mitsubishi Motors will issue new shares to Nissan at a 5.3 percent discount to Wednesday's close, raising 237.4 billion yen ($2.18 billion).Nissan will be able to nominate a third of Mitsubishi's board, which Ghosn said he believed would be led by a Nissan executive – prompting industry analysts and bankers to forecast a significant reshuffle at the top.
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