Taiwanese Venture Giant Bids $1.8B For Leading Brokerage

Law360, New York (April 6, 2012, 4:46 PM EDT) -- Taiwan's biggest venture capital outfit, China Development Financial Holding Corp., made a play Thursday for the island's No. 2 brokerage firm, tendering an offer worth up to $1.8 billion for the outstanding shares of KGI Securities Co. Ltd.

The merger would boost CDFH to a nearly 30 percent market share in equity underwriting and make it the top debt underwriter in Taiwan, according to a transaction summary CDFH posted Thursday.

CDFH aims to acquire at least 50.1 percent, or 1.6 billion, of KGI's 3.2 billion outstanding...
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