Taishin Financial Holding Co. and Shin Kong Financial Holding Co. have agreed to a merger through a stock swap, creating Taiwan’s fourth-largest financial holding company. Taishin will exchange 0.6022 of its shares for each Shin Kong share, valuing Shin Kong at an approximate 9.07% discount from its last closing price. The newly formed entity will be called Taishin-Shin Kong Financial Holding, with Taishin’s shareholders owning 55% and Shin Kong’s 45%. The combined entity will have assets nearing NT$8.29 trillion, making it a major player in Taiwan’s financial sector. The merger still awaits approvals from shareholders and Taiwan’s Financial Supervisory Commission as well as the Fair Trade Commission. Amid boardroom disagreements and a possible rival bid by CTBC Financial, the merger has sparked considerable market interest.
Financial Services, Mergers and Acquisitions,Taiwan
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