Thursday, October 28

Japan’s Shinsei Bank forms independent panel to respond to SBI takeover bid

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TOKYO — Japan’s Shinsei Bank Ltd is forming a panel of independent directors to weigh its response to a takeover bid from SBI Holdings, so as to ensure the “fairness and objectivity of the evaluation,” it said on Wednesday.

On Tuesday, the Kyodo news agency said Shinsei would officially object to the takeover bid. (Reporting by Elaine Lies; Editing by Clarence Fernandez)

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