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The Glazers' shareholding increased gradually to 76.2% by 23 May, when they made their final offer of 300 pence per share, with a deadline of 3 p.m. on 13 June.
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And cross-shareholdings increased in 2006 and 2007, having fallen for almost a decade.Yet the metaphor of shareholder democracy is misplaced, quips one government official, since Japan is barely a functioning political democracy: the ruling Liberal Democratic Party has been in power nearly continuously since 1955.
Morgan will underwrite the offer and could therefore end up with a much increased shareholding.
BBC Worldwide bought a 25% stake in the company in 2008, a shareholding which has increased to 73%.
Foreign shareholders have increased their holdings in recent years as traditional cross-shareholdings between banks and their corporate chums have unravelled (see chart).
Meanwhile Axa increased its shareholding in Kingfisher by 3m shares to 5.05%.
Gennady Timchenko, one of Mr Putin's allies, increased his shareholding to 23% in 2009.
Bertelsmann has increased its shareholding in RTL from a third a few years ago to 90% last year, and the broadcaster is now the largest asset in the Bertelsmann empire.
Controversy over Usmanov's record has surfaced since he paid Arsenal's former vice-chairman David Dein £75m for a 14.5% stake last month, then rapidly increased his shareholding to 21%.
Laxey Partners Limited increased its shareholding to 11.64% on Wednesday.
Bus tycoon Sandy Easdale has increased his shareholding in Rangers to 4.52%.
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