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The announcement capped off a three-month bid that at one point turned hostile, a rare development in the Japanese financial sector. SBI launched the takeover bid in September, offering
The tender offer ended Friday.
SBI now plans to apply for approval to set up a bank holding company by the end of the year at the earliest to take a majority stake in Shinsei through additional share purchases.
Shinsei once objected to SBI's offer and sought approval to introduce defensive measures at an extraordinary shareholders' meeting. But the bank gave up the plan last month as it looked increasingly difficult without support from the Japanese government, one of its major shareholders.
The government injected
==Kyodo
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