Fubon Financial rejects rumors on Jih Sun dealSPECULATION: Fubon Financial said if it wanted to help Tomorrow Holding dispose of its assets, it would have acquired it directly, instead of going through Jih SunStaff writer, with CNAFubon Financial Holding Co (富邦金控) yesterday dismissed speculation that its bid to acquire smaller rival Jih Sun Financial Holding Co (日盛金控) is aimed at helping a Chinese shareholder dispose of his assets for cash. The Fubon Financial Holding Co headquarters is pictured in Taipei on Dec. 20, 2011. Photo: Lin Cheng-kun, Taipei TimesThe financial terms of the acquisition deal are fair to all Jih Sun shareholders, no matter whether they are majority or minority shareholders, Fubon Financial said, assuring that the acquisition process would be transparent. Kao said that as Fubon Financial has considerable investments in China, the company would have no choice but to yield to pressure from China. Under the tender offer, Fubon Financial would acquire a 50.01 percent stake in Jih Sun for NT$24.53 billion (US$860 million), or NT$13 per share.

Source: Taipei Times December 21, 2020 15:56 UTC