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Taiwan to ease M&A rules for private financial companies

Taiwan's Financial Supervisory Commission plans to ease M&A rules for private sector financial holding companies as it looks to promote consolidation in the sector, Taipei Times reported June 12, citing the regulator's chairman, Wellington Koo.

Under the proposed rules, a buyer would only need to commit to purchasing a 10% stake in a target company in order to initiate a tender offer, down from 25% currently, Koo said.

The chairman added that the new rules would only apply if the buyer intends to operate the target company as a wholly owned subsidiary. They are also restricted to financial holding companies seeking to acquire peers, privately run banks or brokerage firms.

The new rules will not apply to consolidations involving state-run financial holding companies and institutions, Koo said.

The regulator is finalizing the details of the proposed changes.