SBI OKs Shinsei Bank's request to extend tender offer until Dec. 8

Politics Economy

Japanese online financial group SBI Holdings Inc. said Wednesday it will extend its unsolicited tender offer for Shinsei Bank until Dec. 8, as requested by the bank, to avoid "unnecessary confusion" among shareholders. In a potential pause in the escalating tensions between the two, SBI acquiesced to Shinsei, which had dangled the threat of carrying out some of its defense measures against SBI's hostile takeover bid. SBI is seeking to raise its stake in Shinsei from the current 20 percent to 48 percent in the tender offer, launched in early September. If the offer is successful, the financial ...

Kyodo News

Kyodo News