Thus far, two mergers in Singapore’s Financial sector have failed to go through, and several cross-border ventures have gone awry. One merger hardly got past the rumour stage. Overseas Chinese Banking Corporation and Overseas Union Bank apparently explored a possible merger towards the end of 1999, calling off talks early in 2000.
The banks’ CEOs, Alex Au and Peter Seah, both professional bankers (which means not family members), apparently could not agree on terms for either price or control.
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