SBI Holdings, which is conducting a takeover bid for TOB = shares with Shinsei Bank, has indicated that it will not respond to raising the purchase price per share, which Shinsei Bank has indicated as a condition for approval of the TOB. ..
On the 21st, Shinsei Bank officially announced its opposition to the takeover bid that SBI Holdings is implementing to buy up to 48% of Shinsei Bank's shares, and it has developed into a hostile takeover bid.
In addition, Shinsei Bank requested that the purchase price per share be raised as a condition in favor of the TOB and that the acquisition ratio, which is set at a maximum of 48%, be abolished, but SBI has announced that it will not respond to changes in the conditions.
In response, Shinsei Bank said, "Unfortunately, we will continue to offer consultations to SBI."
SBI executives have indicated that consultations are not necessary, and if the conflict continues, Shinsei Bank will hold an extraordinary shareholders' meeting on the 25th of next month to block the takeover bid and reduce SBI's voting rights ratio. We are consulting to implement a takeover defense measure called "poison pill".