SBI Holdings, a major online finance company that makes a takeover bid for Shinsei Bank, will extend the TOB period requested by Shinsei Bank until November 24, provided that four items are observed. Announced the policy to do so.
SBI Holdings is conducting a takeover bid from the 10th of this month to the 25th of next month with the aim of buying up to 48% more shares in Shinsei Bank.
In response, Shinsei Bank decided to introduce takeover defense measures to reduce the voting rights ratio of SBI, and requested SBI to extend the TOB period until December 8.
In response to this, SBI announced on the 24th that it will conditionally extend the period.
Specifically, if Shinsei Bank announces that it will protect the four items required by SBI, it will extend the TOB period until November 24th.
The four items are that Shinsei Bank's board of directors should not unnecessarily extend the period for considering the approval or disapproval of the TOB, and even if a general meeting of shareholders is held asking whether or not to implement takeover defense measures, at the shortest possible timing. We are looking for something to hold.
In addition, we are requesting Shinsei Bank to announce whether or not to comply with these items by the 28th of this month.