CTBC Defends $4 Billion Bid for Taiwan Rival, Vows to Keep Jobs

CTBC Financial Holding Co., fighting a takeover battle for Shin Kong Financial Holding Co. to create Taiwan’s biggest finance group, pledged to avoid any job cuts within three years if the deal is approved.

CTBC has had positive talks with the Financial Supervisory Commission and expects to be allowed to proceed with its hostile bid, President Rachael Kao said in an interview late Thursday. Normally, regulators only require a guarantee of no job cuts for two years following any deal.

Rachael Kao

Source: CTBC Financial Holding Co.

“We have a degree of certainty” that the FSC will approve the bid, Kao said. CTBC told regulators ...