Malaysia’s second largest bank is pursuing the top spot and announced Thursday that it has been given regulatory approval to proceed with a merger that would achieve its goal.
Reports say CIMB Group Holdings has been given approval by Malaysia’s central bank, Bank Negara Malaysia, to proceed with merger talks to acquire RHB Capital and Malaysia Building Society, two smaller banks that, when the three are combined, would create the nation’s largest lender.
Sources say details of the merger remain unclear, but CIMB will now begin to discuss a possible deal. Reports say the banks will now proceed with a 90-day exclusivity deal to negotiate a merger.
According to reports, the deal proceeds plans to integrate Southeast Asian economies, which is set to begin by the end of next year, as the region looks to strengthen its position in the global market.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Croatian Supermarket Chain Tommy Cleared to Acquire Brodokomerc Nova
Oct 13, 2024 by
CPI
X and Unilever Settle Antitrust Dispute, Continuing Partnership
Oct 13, 2024 by
CPI
Federal Judge Allows Antitrust Claims Against GoDaddy to Proceed
Oct 13, 2024 by
CPI
Court Ruling Opens Door for Microsoft to Sell Xbox Games on Android Without Google’s Cut
Oct 13, 2024 by
CPI
Realtors Appeal to Supreme Court Over DOJ’s Investigation into Antitrust Violations
Oct 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh