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Fubon to extend public tender offer for Jih Sun By Kao Shih-ching / Staff reporter Fubon Financial Holding Co (富邦金控) yesterday said that it is to extend its public tender offer for Jih Sun Financial Holding Co (日盛金控) until March 23, as it has not yet gained approval from the Fair Trade Commission. Fubon Financial began the public tender offer on Dec. 22 last year after it announced its plan to acquire at least a 50 percent stake in Jih Sun on Dec.18. The offer was originally set to end on Monday, according to a company filing with the Taiwan Stock Exchange. Pedestrians walk past a Fubon Bank branch in Taipei in an undated photograph. Fubon Financial Holding Co yesterday said that it is to extend its public tender offer for Jih Sun Financial Holding Co until March 23. ....
Fubon Financial rejects rumors Jih Sun deal related to Chinese tycoon 12/21/2020 03:20 PM CNA file photo Taipei, Dec. 21 (CNA) Fubon Financial Holding Co., one of the leading financial holding companies in Taiwan, on Monday dismissed speculation that its deal to acquire the smaller Jih Sun Financial Holding Co. is aimed at helping the latter s Chinese tycoon shareholder to dispose of his assets for cash. In a statement, Fubon Financial said before it announced on Friday a tender offer to acquire Jih Sun Financial that the company had never made any contact with any of the latter s two majority shareholders Japan s Shinsei Bank and Hong Kong-based Capital Target Ltd. which is reportedly owned by Chinese tycoon Xiao Jianhua (肖建華), head of the Chinese conglomerate Tomorrow Holding. ....
Fubon Financial eyes larger market share after acquisition 12/19/2020 01:08 PM CAN file photo Taipei, Dec. 19 (CNA) Fubon Financial Holding Co., one of the leading financial holding companies in Taiwan, has set a goal of securing a higher share in the local securities market after completing a deal to acquire a smaller rival Jih Sun Financial Holding Co. Jerry Harn (韓蔚廷), president of Fubon Financial, said in a news conference held Friday night, after the company announced the acquisition deal, that Jih Sun Financial owns the 59-year old Jih Sun Securities, which has 1.3 million customers and a 3.59 percent share in the local securities brokerage business, making it the seventh largest securities company in Taiwan, as of September. ....
Fubon Financial looks to acquire Jih Sun By Kao Shih-ching / Staff reporter Fubon Financial Holding Co (富邦金控) yesterday announced that it plans to acquire at least a 50 percent stake in Jih Sun Financial Holding Co (日盛金控) via a public tender offer valued at NT$24.53 billion (US$861 million), the first merger or acquisition of a financial holding company in the nation. Fubon eventually aims to fully acquire Jih Sun, in a deal that would cost NT$49.04 billion. Fubon said it had received approval from the Financial Supervisory Commission (FSC) to proceed with the deal. It is preparing to file another application with the nation’s competition watchdog, the Fair Trade Commission (FTC), company spokeswoman Sophia Wang (王瑋) told a news conference in Taipei. ....