Japanese regional lender Tomony Holdings Inc said on Monday it is in talks to merge with Osaka-based Taisho Bank, owned 26 percent by Mitsubishi UFJ Financial Group Inc, helping to keep up momentum for consolidation in the crowded sector.
Tomony is based on the western island of Shikoku with total assets of 3 trillion yen, while Taisho Bank has total assets of 450 billion yen.
The Nikkei business daily reported Tomony aims to acquire unlisted Taisho in an all-stock deal as early next year.
Full Content: Mainichi
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