Taiwan FSC rejects CTBC's $4b bid for Shin Kong, potentially leading to a Shin Kong-Taishin merger.

Taiwan's Financial Supervisory Commission (FSC) has denied CTBC Financial's $4 billion bid for Shin Kong Financial, citing inadequate plans for the acquisition and concerns over market risks. This rejection increases the likelihood of a merger between Shin Kong and Taishin Financial, which Shin Kong prefers. The FSC emphasized the importance of orderly mergers in the financial sector.

September 16, 2024
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