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Shinsei Bank to oppose SBI takeover bid


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independent external directors

LOL! These do not exist in Japan.

0 ( +3 / -3 )

Misleading headline there.

It is not that Shinsei opposes the offer. Shinsei, or at least its owners, the shareholders have not yet been given a chance to voice their opinion on whether to sell their shares.

It is the management and directors that are set to oppose. Given that they have a fairly material interest in the transaction not happening, ie keeping their jobs, they should not be in a position to block the bid. This should be purely a matter for shareholders to consider.

-1 ( +0 / -1 )

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