Shinsei Bank decides to launch defense against SBI's takeover

Shinsei Bank said Friday it will launch defensive measures against an unsolicited takeover bid by Japanese online financial firm SBI Holdings Inc. and hold an extraordinary shareholders meeting to seek approval for the plan.In a further flare-up of tensions, the decision by the Shinsei board effectively makes SBI's tender offer, launched a week ago, hostile. SBI immediately hit back, saying Shinsei's move is meaningless and only intended to "buy time."A focal point is what the government, which currently owns about 20 percent of Shinsei, will do, though people familiar with the matter said …READ FULL ARTICLE