SHANGHAI—Mainland shares in China Vanke Co. sank to their daily limit Monday after a half-year halt, as investors responded to the developer’s plan to ward off a hostile takeover by diluting existing share holdings. Vanke, the world’s largest home builder by sales, recently unveiled a $6.9 billion planned asset-swap deal with a state-run company meant to fend off a takeover attempt by Baoneng Group, a little-known property developer and insurer that had aggressively acquired a substantial stake in Vanke in the second half...

Source: Wall Street Journal July 04, 2016 08:15 UTC