Taishin lifts offer price by 25 to about 7 bln
Taishin plans to absorb 100 stake in Shin Kong via stock swap
Rival offer from CTBC is for a 51 stake through mix of cash and shares

TAIPEI, Sept 12 Reuters Taiwan financial conglomerate Taishin said it would raise its offer for peer Shin Kong by 25 to about T222.4 billion 7 billion, in a deal that would be Taiwan39;s biggestever financial services industry merger.

Taishin and Shin Kong39;s longmooted tieup, announced last month, has had to contend with an unexpected rival bid from CTBC Financial to acquire Shin Kong, though the target says it views Taishin as its preferred bidder.

Taiwan39;s financial services industry tends to be quite domestically focused, and Taishin and Shin Kong hope that by merging they can expand their footprint and become a more globally competitive firm while building longterm value.

Taishin will offer 0.672 common shares and 0.175 preferred shares per Shin Kong share for a 100 stake in the revised allshare deal, sweetening the pot from the 0.6022 common share swap offered previously, Taishin and Shin Kong said late on Wednesday.

The offer would convert to T14.18 per Shin Kong share based on Wednesday39;s closing prices, 25 more than was originally offered, Taishin said, although slightly less than the T14.55 per share offered by CTBC for a 51 stake through a mix of shares and cash.

Our offer applies to 100 of Shin Kong shareholders, while CTBC39;s offer is for only 51 of shares. What…