On the 17th, Shinsei Bank decided to introduce takeover defense measures to counter the TOB = takeover bid by SBI Holdings, a major online finance company, and requested SBI to extend the TOB period.
On the other hand, SBI has a policy of not accepting extensions as it is time-earning.
SBI Holdings is conducting a takeover bid for Shinsei Bank, aiming to buy up to 48% more shares.
In response, Shinsei Bank decided on the 17th to introduce takeover defense measures to reduce the voting rights ratio of SBI.
In addition, Shinsei Bank has requested SBI to extend the TOB end date from 25th December to 8th December.
During this time, Shinsei Bank seems to have the aim of finding a friendly sponsor, the so-called "White Night," to compete with SBI.
According to the people concerned, it was found that SBI will not respond to this request for extension of the TOB as "earning time".
If SBI does not accept the extension by noon on the 30th of this month, Shinsei Bank will proceed with takeover defense measures and immediately decide on the allocation of stock acquisition rights to shareholders.
On the other hand, SBI is also considering filing a provisional disposition for the suspension of the allocation of stock acquisition rights by Shinsei Bank, and the conflict between the two companies is further intensifying.Keywords: