|Bid||53.50 x 0|
|Ask||53.60 x 0|
|Day's Range||53.50 - 54.40|
|52 Week Range||46.05 - 56.20|
|PE Ratio (TTM)||11.83|
|Earnings Date||Nov 8, 2017 - Nov 13, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||56.87|
Taiwan's Cathay Financial Holdings said its two subsidiaries have completed an agreement to acquire the Malaysia unit of The Bank of Nova Scotia for $255 million. The subsidiaries, Cathay United Bank and Cathay Life, will split the stake at 51 percent and 49 percent respectively, according to a company statement. Last month, Cathay Financial said its subsidiaries were participating in the equity bid for the Malaysia unit in an exclusive agreement.
Bank of Nova Scotia is in talks with Cathay Financial Holdings Co. to sell its Malaysian operations as the Canadian lender looks to exit a country it’s been in for 44 years.
Taiwan's Cathay Financial Holding Co is in exclusive talks to acquire the Malaysian unit of Canada's Bank of Nova Scotia, in a deal that could be valued at around $200 million to $300 million. If clinched, the deal will enable Taiwan's largest financial holding company by assets to widen its reach in Southeast Asia. The Taiwanese group's bank and life insurance units plan to jointly purchase all of Bank of Nova Scotia Berhad in Malaysia, according to a Cathay Financial statement to the Taiwan Stock Exchange on Thursday.