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Fubon Financial Holding Co(富邦金控) yesterday said it has reached an initial consensus with the labor union of Jih Sun International Bank (日盛銀行), promising that it would not dismiss any bank employees in the next three years. Fubon Financial acquired the bank’s parent company, Jih Sun Financial Holding Co (日盛金控), earlier this year and it had held talks with the bank’s labor union and Jih Sun Financial’s labor union separately. None of the more than 1,000 employees of Jih Sun Bank would be sacked in the next three years after the acquisition, while those who are eligible to retire and apply to do ....
IBF Financial Holdings Co (國票金控) is to acquire all EnTie Commercial Bank (安泰銀行) shares through a cash-and-share swap to secure a bigger space in the banking market, IBF said yesterday. Under the deal, which was approved by IBF’s board of directors earlier yesterday, each EnTie shareholder is to receive NT$9.46673 in cash and 0.493344 class A preferred shares in IBF for each EnTie share, it said. The class A shares could be converted into IBF common shares after one year, it said. The offer is valued at NT$17.21 per share, a premium of 1.2 percent over EnTie’s closing share price on Wednesday and ....