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San ju San Financial Group and Aichi Financial Group surge on business integration agreement disclosure
San ju San Financial Group <7322> jumped sharply to a post-listing high, while Aichi Financial Group <7389> also posted significant gains following reports of a potential merger. NHK reported on May 13 that the two regional banks are in final negotiations to integrate their businesses. In response to the report, the Tokyo Stock Exchange temporarily suspended trading for both companies. However, at 12:30 p.m., both firms issued statements confirming that their respective boards of directors had reached a basic agreement on a business integration. They added that further details would be announced promptly once finalized. Trading resumed at 12:46 p.m., with shares of both Aichi Financial and San ju San Financial rallying as investors weighed the potential for integration synergies.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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