Taiwan Market Valuation on the Merger of Fubon Holdings and ING Antai Life Insurance (Taiwan)

• Main Authors: Chih-Lung Hsu, 許智龍
• Other Authors: Shou-Hsiang Liu
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/47493475985876076894

碩士 === 銘傳大學 === 風險管理與保險學系碩士班 === 97 === On October 20th, 2008, Fubon Financial Holdings announced that it will acquire ING Antai Life Insurance (Taiwan), and Dutch ING Group will receive 5% shares of Fubon Financial Holding. After this transaction, ING will become the largest foreign shareholder of Fubon Financial Holdings, and Fubon Financial Holdings will become the second largest financial holdings company in Taiwan. But shareholders and the market investors still doubt whether or not this merger could create wealth. This papers utilized event study method to analyze its impact on stockholders’ wealth of Fubon Financial Holdings. The results are as follows: (1) Fubon Financial Holdings has positive cumulative abnormal returns, so this results support the “Synergy Hypothesis.” (2) Merger increased Fubon Financial Holding’s Market share rate and expand the financial map. (3) The case also prompted Fubon Financial Holding’s cumulative abnormal return better than other financial institutions.