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Rival won't make hostile bid for UFJ, says chief of Japan financial group.
Knight Ridder/Tribune Business News, September, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Sep. 16--LONDON -- The president of Mitsubishi Tokyo Financial Group Inc. believes Sumitomo Mitsui Financial Group Inc. will not make a hostile takeover bid for UFJ Holdings Inc., the Financial Times reported Thursday.
Nobuo Kuroyanagi told the British newspaper in an interview that UFJ's shareholders should understand that Mitsubishi Tokyo's proposed merger with the ailing banking group is in their interests, the paper said.
"I believe that with the injection of 700 billion yen UFJ shareholders will understand that their rights have been protected," Kuroyanagi was quoted as saying, referring to his bank's recent decision to provide a capital injection to UFJ.
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