HSBC: The British Banking Giant Targets the Hang Seng Bank!

HSBC is taking the next step in its Asia strategy. The British banking giant plans to fully acquire the historic Hang Seng Bank. With this billion-dollar plan, CEO Georges Elhedery is sending a clear signal: HSBC aims to regain control over its crown jewel in Hong Kong and tighten its Asia operations under one umbrella. After years of restructuring and a clear focus on the East, the privatization of Hang Seng Bank is set to become a central building block of a new era of growth. An offer of €11.7 billion and a 33% premium for minority shareholders...