Japanese Bank Bid Suffers Setback
By:
Jutia Group
Posted on August 15, 2008 at 12:16 PM EDT
Mitsubishi UFJ Financial Group’s (ADR: MTU) $3 billion bid to obtain California’s UnionBanCal Corp. (UB) suffered a blow yesterday (Thursday) when a shareholder advisory committee determined the offer price was too low. “The proposed price does not reflect the strength of…
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