TOKYO, Aug 18 (Reuters) - Mitsubishi UFJ Financial Group (MUFG) , Japan's largest bank, said on Monday it had sweetened its bid for control of U.S. unit UnionBanCal Corp (UB.N: Quote, Profile, Research, Stock Buzz) by about 17 percent to $3.5 billion.
MUFG, Japan's largest bank, had said last week that it would launch a tender offer for the 35 percent it does not already own in UnionBanCal at $63 for each share, but the California bank had dismissed the offer as too low.
MUFG said it came to an agreement with the UnionBanCal board on the new offer on Monday. (Reporting by David Dolan)
Monday, August 18, 2008
Japan's MUFG sweetens bid for UnionBanCal to $3.5 bln
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