Opposition grows to Bain's bid for Japanase ad agency Asatsu-DK

HONG KONG, Oct (Shenzhen: 000069.SZ - news) 18 (Reuters) - Opposition was growing on Tuesday to U.S. private equity firm Bain Capital's $1.35 billion offer to buy Asatsu-DK Inc as Hong Kong-based activist hedge fund Oasis Management Company joined other shareholders in Japan's third-largest advertising agency in calling the offer too low.

DK's two largest shareholders, global advertising giant WPP (Swiss: OXWPP.SW - news) and London-based fund manager Silchester International have already said the offer significantly undervalues Asatsu-DK and have called for competing bids to come forward.

"We believe there is lot of potential growth in earnings by ADK through expanding its digital strategy and animation. Bain is attempting to buy a steady, consistent platform with large untapped potential," said Seth Fischer, chief investment officer of Oasis.

"We, as long term shareholders, want to get paid a fair price for our shares, which we think is at a premium to the current market price." (Reporting by Elzio Barreto; Editing by Greg Mahlich)