Taiwan regulator denies CTBC's $4b bid for Shin Kong Financial
A complicated takeover battle for Taiwan's fifth-largest financial holding firm has taken a turn. The Financial Supervisory Commission has disapproved of CTBC Financial's $4 billion offer to acquire smaller rival Shin Kong. This could clear the path for Shin Kong and another financial group Taishin to proceed with their planned merger via a share swap deal. Victoria Jen unpacks the takeover drama.
A complicated takeover battle for Taiwan's fifth-largest financial holding firm has taken a turn. The Financial Supervisory Commission has disapproved of CTBC Financial's $4 billion offer to acquire smaller rival Shin Kong. This could clear the path for Shin Kong and another financial group Taishin to proceed with their planned merger via a share swap deal. Victoria Jen unpacks the takeover drama.
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