TOKYO -- Shinsei Bank on Wednesday withdrew its poison pill defense designed to thwart SBI Holdings' takeover and accepted the firm's picks for a new president and chairman.
Shinsei's move comes after SBI, which engages in financial services, decided to take into consideration a management plan presented to the government by Shinsei Bank for a new management structure. Shinsei believes there is now little concern that the interests of minority shareholders will be damaged.
