Author Topic: ABOUT BPI AND PNB MERGER PLANS  (Read 645 times)

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« on: November 25, 2012, 11:51:05 AM »
Guys nabasa nyo na ba eto?

Check it here.

Ayala hopeful of BPI-PNB merger by year-end

MANILA, Philippines - Conglomerate Ayala Corp. is hoping the possible merger between its banking arm, Bank of the Philippine Islands, and Lucio Tan's Philippine National Bank will be finalized before year end.

Ayala Corp. Chief Finance Officer Delfin Gonzalez, when asked if the deal may be closed within the year, answered with an optimistic "hopefully."

However, he was quick to add there is no timetable for the merger yet.

"We are still reviewing the terms. We will disclose when there's already a signed agreement," he said.

BPI and PNB on Friday denied reports saying their respective boards have already approved of the planned merger.

Both banks on Wednesday confirmed negotiations are underway for a possible merger that will result into the country's largest bank in terms of assets.

What do you think of this merger? How would this affect the stock market in general? Speculations anyone?

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« on: November 25, 2012, 11:51:05 AM »

Mountain View


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« Reply #1 on: November 25, 2012, 12:03:44 PM »
Normally naman sa ganyan talagang tumataas talaga ang stock value pag may ganyan na merger/acquisition...  this happened also during Equitable and BDO and if you monitor the news you would see such boost is evident... check mo etong recent news from reuters.

Merger talks boost shares at BPI, PNB

Posted at 11/22/2012 9:59 AM | Updated as of 11/22/2012 12:56 PM

MANILA (UPDATE) - Shares of the Bank of the Philippine Islands (BPI) and rival Philippine National Bank climbed on Thursday after the banks said they were discussing the possibility of BPI acquiring a stake in PNB.

BPI, the country's third-largest bank by assets, said it was in talks with a group headed by businessman Lucio Tan, the country's second-richest man, to acquire Tan's stake in PNB, which currently totals about 60 percent. The deal may create the country's biggest lender by assets, outpacing current top bank, BDO Unibank Inc.

PNB, in a separate statement, confirmed the talks, adding there was "no other matter that would require disclosure."

The talks between the banks involve a share swap that would give the Lucio Tan group a 20 percent stake in BPI, while the Ayala Corp, which controls BPI, would become the single-largest shareholder of PNB, banking sources close to the two groups told Reuters.

The deal was discussed by the PNB board at a meeting on Wednesday, but could not be voted on for lack of quorum, one of the banking sources said.

Local newspapers have reported the two groups may strike a deal valuing PNB at 96 pesos per share, a premium over the bank's current share price. There was no immediate confirmation from PNB on this valuation.

BPI shares jumped as much as 7.4 percent and PNB shares rose as much as 6.1 percent in early trading, pushing the financial sector sub-index up 2.4 percent.

BPI shares later pared gains while PNB fell as much 4 percent. Both stocks hit fresh record highs in early trade.

The transaction makes sense for the Tan group, which has been cleaning up its portfolio as Lucio Tan prepares to take a backseat and let his children and trusted managers handle his tobacco, airline, brewery and liquor businesses, analysts said.

PNB is itself in the middle of a consolidation, as it has yet to fully incorporate the operations of sister firm Allied Banking Corp. That merger was approved by the central bank in August.
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« Reply #1 on: November 25, 2012, 12:03:44 PM »


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