Japan's Shinsei Bank mulls steps to fend off $1.1b SBI Holdings bid

The Shinsei Bank logo is pictured at the lobby of the bank in Tokyo October 22, 2010. REUTERS/Yuriko Nakao

Japan’s Shinsei Bank is considering measures to fend off an unsolicited $1.1 billion tender bid by SBI Holdings, the Nikkei financial daily reported on Tuesday.

Shinsei Bank’s board could meet this week to discuss a possible issuance of stock warrants to existing shareholders to dilute the holdings of SBI, which already owns 20% of the Tokyo-based lender, Nikkei said without citing sources.

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