Shinsei Bank announced that it will decide the approval or disapproval of the TOB = tender offer by SBI Holdings, a major online finance company, by the 21st of this month.
SBI Holdings is conducting a takeover bid with the aim of buying up to 48% of Shinsei Bank's shares.
In response, Shinsei Bank was considering the approval or disapproval of the TOB, but announced on the 18th that it will extend the examination period and decide the approval or disapproval of the board of directors by the 21st of this month.
Banks explain that the reason for the extension is that there is much to consider.
While Shinsei Bank reserves the pros and cons of the TOB, the two companies are becoming more confrontational, with the decision to introduce a takeover defense measure called the so-called "poison pill" that lowers the voting rights ratio of SBI.
According to people familiar with the matter, Shinsei Bank's board of directors is considering opposition that the takeover bid will not benefit minority shareholders.
If it opposes the TOB, it will also decide to hold an extraordinary general meeting of shareholders to discuss the implementation of takeover defense measures.