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(From Malaysian Business)
THE twists and turns in the proposed merger between Southern Bank Bhd (SBB) and the CIMB Group have created excitement in an otherwise quiet market.
Although called a merger, many see it as an unwelcome takeover attempt by the ambitious CIMB. It also involves two prominent bankers - SBB's Tan Sri Tan Teong Hean and CIMB's Datuk Nazir Razak.
But in the run-up to the events thus far, there have been many unanswered questions. For example, why wasn't Tan given the first right of refusal to acquire his partners' stakes in SBB?
Putting together this cover story was no easy task, given that there were major happenings …