A serial article titled “[Series] Latest Trends and Points to Note Regarding M&A among Financial Institutions – Part 5: Local Banks’ Responses to Hostile Shareholders and Their Defenses Against Possible Hostile Takeovers,” written by Takashi Osawa and Chihiro Tominaga, was published in The Finance.

[Series] Latest Trends and Points to Note Regarding M&A among Financial Institutions

[Part 5] Local Banks’ Responses to Hostile Shareholders and Their Defenses Against Possible Hostile Takeovers

Table of Contents

1. Recent trends of hostile shareholders in local banking circles

(1) Shareholders’ proposals

(2) Trends of hostile takeovers and takeover defense measures

2. Restrictions under the Banking Act and their influence

(1) Outline of regulations concerning major shareholders

(2) Influence on hostile shareholders

3. Measures against hostile shareholders

(1) Basic concepts

(2) Larger shareholder returns

(3) Examination of takeover defense measures

(4) Delisting

https://thefinance.jp/law/230206