Shinsei Bank to propose takeover defense at shareholders meeting

Economy

Japan's Shinsei Bank is considering proposing at an extraordinary shareholders meeting to be held as early as October measures to reject an unsolicited offer by online financial service firm SBI Holdings Inc. to take over the Tokyo-based bank, people close to the matter said Tuesday. Shinsei Bank's board may meet this week and decide to seek shareholders' approval for an issuance of share warrants to resist SBI's plan to raise its stake in the bank to as high as 48 percent from the current 20 percent through a tender offer, they said. The bank is mulling issuing share warrants, the option to b...

Kyodo News

Kyodo News