Taiwan to Restrict Hostile Takeovers in Crowded Financial Sector

Taiwan regulators announced plans to effectively block hostile takeovers in the island’s crowded financial sector, months after preventing a roughly $4.1 billion deal that would have created Taiwan’s largest financial group.

The Financial Supervisory Commission will amend rules to close the door to non-consensual mergers and acquisitions to ensure market stability, it said in a statement late Tuesday. In the future, acquiring financial firms must get a board resolution from the target company indicating no objection, or show that they can secure a majority of shares or board seats to complete the acquisition, the FSC said.

The changes aim to ...