Fubon gets Taipei Bank

Round one goes to Fubon in the Taiwanese banking consolidation game as it snaps up Taipei Bank.

Fubon Financial Holding Company FHC has emerged victorious in its bid for Taipei Bank. It beat five other bidders for the deal, which was run through a transparent auction process by Taipei Bank's advisers, Goldman Sachs.

The acquisition will be made using Fubon stock, which will be exchanged for Taipei Bank shares. Fubon will offer a value of NT$35.5 for every Taipei Bank share and will use the 30 day average of its own stock for the exchange ratio....

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