Shinsei Bank says it is still considering response to SBI's bid

FILE PHOTO: The Shinsei Bank logo is pictured at the lobby of the bank in Tokyo
·1 min read

TOKYO (Reuters) - Japan's Shinsei Bank said on Wednesday no decision has been made on its response to an unsolicited $1.1 billion bid by SBI Holdings following a media report that it plans to introduce a poison-pill defence.

"It is true that Shinsei Bank is currently considering various measures to respond" to SBI's tender offer, the Tokyo-based lender said in a statement.

"However, it is not factual that a decision has been made at this time," it said, adding that any decisions would be disclosed in a timely manner.

The Nikkei financial daily reported on Tuesday that Shinsei Bank's board could meet this week to discuss a possible issuance of stock warrants to existing shareholders to dilute the holdings of SBI.

Shinsei Bank is also talking to potential white knights, including Seven & i Holdings and Sony Group Corp, the Nikkei reported.

Shares of Shinsei Bank dropped more than 3% briefly early Wednesday, while SBI shares tumbled more than 4% before recouping part of its loss.

SBI last week announced an offer to buy a near majority stake in Shinsei Bank to take effective control of the lender, as SBI aims to become Japan's fourth largest banking group.

(Reporting by Makiko Yamazaki; editing by Richard Pullin)

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