cimb-and-southern-its-a-deal

CIMB and Southern. It's a deal!

After five months of negotiating, CIMB Group's Bumiputra-Commerce Holding Berhad and Southern Bank say they will merge.
CIMB GroupÆs Bumiputra-Commerce Holdings Bhd (BCHB) upped its offer for Southern Bank Bhd to M$6 7 billion ($1 8 billion) on Wednesday (March 15), after months of heated negotiations over MalaysiaÆs largest banking takeover

BCHB, the nationÆs second-largest lender sweetened the deal to M$4 30 per share, up about 4% from an initial hostile offer of M$4 15

CIMB Group and Southern Bank, which is the nationÆs second-smallest lender, jointly announced the proposed merger, saying they now have unanimous support from the boards of directors of both BCHB and Southern Bank, "as well as endorsement from substantial shareholders of Southern Bank" for the proposed acquisition by BCHB û alluding to the five-month old negotiating struggle...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222