CosmicTaco

MUFG Eyes Majority Stake in Yes Bank

CosmicTaco · 2024-10-04T07:47:38.199545+05:30

- **MUFG** is the frontrunner to acquire a majority stake in **Yes Bank**, overcoming regulatory voting rights cap. - **Sumitomo Mitsui** and **Emirates NBD** dropped out due to the 26% voting rights cap. - **MUFG** has begun due diligence, advised by **JP Morgan**. - **Yes Bank** shares fell 2.4% amid global market turmoil. - **MUFG** may buy more than 26% to trigger an open offer, despite the voting cap. Source: [Mint](https://www.livemint.com/companies/mufg-emerges-as-sole-contender-for-yes-bank-majority-stake-11727941029674.html), [The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/mufg-rejoins-yes-bank-race-submits-initial-bid-for-a-majority-stake/articleshow/113921718.cms)

MUFG is the frontrunner to acquire a majority stake in Yes Bank, overcoming regulatory voting rights cap.
Sumitomo Mitsui and Emirates NBD dropped out due to the 26% voting rights cap.
MUFG has begun due diligence, advised by JP Morgan.
Yes Bank shares fell 2.4% amid global market turmoil.
MUFG may buy more than 26% to trigger an open offer, despite the voting cap.