Elliott Stake Thwarts OCBC-Wing Hang Deal

Hedge fund Elliott Management has enhanced its stake in Hong Kong lender Wing Hang Bank, Limited (HKG:0302) (OTCMKTS:WGHGY) to nearly 8% by acquiring an additional 8.7 million Wing Hang shares last week. Oversea-Chinese Banking Corp. Limited (SGX:O39) now holds 50.4% stake in Wing Hang Bank. OCBC’s nod from regulators Last week, OCBC said it had received the go-ahead from regulators in Hong Kong, Singapore and Macau to acquire family-owned Hong Kong lender Wing Hang Bank, Limited (HKG:0302) (OTCMKTS:WGHGY). In its statement to the Singapore stock exchange, OCBC disclosed that till last week, it had garnered a 50.4% interest in Wing Hang,…