Japan's Shinsei Bank to withdraw poison pill defence against SBI Holdings bid

Japan's Shinsei Bank to withdraw poison pill defence against SBI Holdings bid

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

Shinsei Bank said on Wednesday it will cancel plans to introduce a poison pill defence aimed at blocking SBI Holdings Inc’s $1.1 billion bid, paving the way for the online financial conglomerate to take effective control of the lender.

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