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Japan's Shinsei Bank forms independent panel to respond to SBI takeover bid

Japan's Shinsei Bank forms independent panel to respond to SBI takeover bid

FILE PHOTO: A woman walks past a logo of the Shinsei Bank at its branch in Yokohama, south of Tokyo, June 23, 2010. REUTERS/Issei Kato/File Photo

TOKYO : Japan's Shinsei Bank Ltd is forming a panel of independent directors to weigh its response to a takeover bid from SBI Holdings, so as to ensure the "fairness and objectivity of the evaluation," it said on Wednesday.

On Tuesday, the Kyodo news agency said Shinsei would officially object to the takeover bid.

(Reporting by Elaine Lies; Editing by Clarence Fernandez)

Source: Reuters

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