Shinsei Bank will hold a board meeting on the 21st and decide to oppose the TOB = tender offer by SBI Holdings, a major online finance company.
It will develop into an exceptionally hostile takeover bid in the banking industry.
SBI Holdings is conducting a takeover bid until December 8 with the aim of buying up to 48% of Shinsei Bank's shares.
In response, Shinsei Bank has continued to reserve that it will take time to consider the pros and cons of the TOB, but has decided to oppose it, saying that the TOB will not benefit minority shareholders.
On the 21st, we will hold a board meeting to formally oppose it and announce it.
At the same time, the policy is to hold an extraordinary general meeting of shareholders in November, and we are consulting on the implementation of takeover defense measures called "poison pills" that reduce the voting rights ratio of SBI.
However, if the SBI side raises the purchase price per share, which is set at 2000 yen, and abolishes the acquisition ratio, which is set at a maximum of 48%, it also states that it agrees with the TOB.
If Shinsei Bank decides to oppose the TOB, the tender offer will be the first hostile takeover bid in the banking industry.