BNK金融与JB金融拒绝Align提出的合并可行性审查

BNK Financial Group and JB Financial Group have rejected a proposal by domestic activist fund Align Partners to merge the two companies. The two groups reached an early decision amid strong opposition from labor unions and local communities, as well as regulators' response that the plan lacked feasibility.
BNK Financial Group held a board meeting on the 28th and disclosed that regarding the request to begin a feasibility review of a merger with JB Financial Group, "after sufficient discussion, we decided not to proceed with the review." The company also decided not to establish a special committee needed for the review. Of the eight directors present, five opposed the agenda item, two supported it, and one abstained. On the same day, JB Financial Group also stated that "it is not appropriate to begin a review of a merger at this point in time."
Earlier, Align Partners had sent a shareholder letter to BNK Financial Group and JB Financial Group requesting a review of the strategic and financial feasibility of merging the two companies. The reason cited was that a merger of the two financial groups would create a large company with 234 trillion won in assets, realizing economies of scale and enabling large-scale investment in artificial intelligence (AI). Align holds a 14.83% stake in JB Financial Group and more than 1% in BNK Financial Group.
On the same day, the Busan Citizens' Coalition, a civic group in the Busan region, urged that the merger attempt between BNK and JB Financial be halted. The labor unions of Kwangju Bank and Busan Bank also expressed opposition. Financial authorities likewise drew a line, saying the plan "lacks feasibility." As opposition to the merger grew louder, the two companies expressed their refusal even before August 7, the response deadline demanded by Align Partners. ▷See this newspaper's July 22 edition, Page 9