Deals
Taiwan’s CTBC Financial Plans to Buy Rival Shin Kong
- Deal would form Taiwan’s largest financial conglomerate
- Taiwan is seeking to boost financial industry, investments
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Taiwan’s CTBC Financial Holding Co. said it plans to buy smaller rival Shin Kong Financial Holding Co., a move that could form the island’s largest financial conglomerate.
Amid speculation swirling of a takeover, the Taipei-based firm announced it will file an application for a tender offer to the Financial Supervisory Commission, according to a statement Tuesday. The price will be announced after approval from regulators, it said.