Taiwan’s CTBC Financial Plans to Buy Rival Shin Kong (2)

Taiwan’s CTBC Financial Holding Co. said it plans to buy smaller rival Shin Kong Financial Holding Co., a move that could form the island’s largest financial conglomerate.

Amid speculation swirling of a takeover, the Taipei-based firm announced it will file an application for a tender offer to the Financial Supervisory Commission, according to a statement Tuesday. The price will be announced after approval from regulators, it said.

CTBC, Taiwan’s third largest financial holding firm by assets, said the deal would allow it to “go global” and to build a regional financial institution, according to a statement. The combination would ...