TOKYO -- Japan's Shinsei Bank on Friday decided to introduce a defensive measure against a $1 billion unsolicited tender offer by SBI Holdings, escalating tensions between the rival financial groups in what is shaping up to be a hostile takeover.
In response, financial conglomerate SBI said it will consider seeking a court injunction to block the lender from using the defense measure. The group is seeking to acquire up to a 48% stake in Shinsei through a tender offer.
