M and A
Two Of Malaysia's Big Banks Shelve Merger Plans
Talks about the merger began in June this year.
Malaysia's RHB Bank and AMMB Holdings, both of which have private banking operations, dropped plans for a merger after they could not arrive at mutually acceptable terms.
The firms said that “after much discussion and deliberation, [both parties] were not able to reach an agreement on mutually acceptable terms and conditions for the proposed merger”, according to a joint statement filed to the stock exchange.
Merger talks began in June after the banks received approval from Malaysia's central bank.
RHB Bank's share price was up 3.89 per cent at the time of writing, while AMMB Holdings was down 2.34 per cent (13:19, 23/08/17).
