The company said that a management group and the Mitsubishi Corporation had proposed an acquisition of the company at $26 a share.

In December 2006, Mitsubishi Corporation contributed $150,000 to expand the program.

The Mitsubishi Corporation, the leader of the group, is one of Japan's biggest trading companies.

That April he went to work for Mitsubishi Corporation where he stayed ever since.

Mitsubishi Corporation employs over 60,000 people and has seven business segments, including finance, banking, energy, machinery, chemicals and food.

Despite this, instant noodles eventually gained immense popularity, especially after being promoted by Mitsubishi Corporation.

The Mitsubishi Corporation became the main shareholder in 2001.

It is an affiliate company of Mitsubishi Corporation.

The company has also received a $26-a-share offer from a group led by its chairman and including the Mitsubishi Corporation.

Traders said rumors circulated that the Mitsubishi Corporation was accumulating stock.