Deals
Yuanta Financial, Ta Chong Surge on $1.7 Billion Takeover
This article is for subscribers only.
Yuanta Financial Holding Co. and Ta Chong Bank Ltd. shares surged by the daily limit in Taipei after Yuanta offered about NT$56.6 billion ($1.7 billion) to acquire the lender, which is backed by Carlyle Group LP.
Yuanta Financial surged 10 percent to the NT$14.90 limit before paring its gain to 5.2 percent as of 11:23 a.m. local time. Ta Chong Bank climbed 9.6 percent to NT$13.65, the highest since April 2004.