Shinsei Bank puts off launch of defense against SBI takeover

Economy

Shinsei Bank said Friday it will hold off on launching some aspects of its defense against a takeover attempt by SBI Holdings Inc. as the period for a unsolicited tender offer was extended as requested. Shinsei has been at odds with SBI over the tender offer launched in early September. In a sign of cooling tensions between the two, the major online financial group on Wednesday acquiesced to Shinsei's request for an extension of the offer to Dec. 8, pushing the proposed deadline back from Oct. 25. SBI is planning to raise its stake in Shinsei from the current 20 percent to 48 percent by offeri...

Kyodo News

Kyodo News