The merger talks between Oversea-Chinese Banking Corporation Limited (SGX:O39) (OCBC) and Wing Hang Bank Limited (SEHK:302) has been extended. OCBC said on January 24, 2014 that the substantial shareholders of Wing Hang and it have agreed to extend the exclusivity period to March 3 from January 31, 2014 This is to seek to finalise the terms for the possible offer. OCBC made it clear that discussions on the deal were ongoing and no definitive terms nor formal legal documentation for the possible offer have been agreed at this stage.

After Hong Kong regulators give the go-ahead for the launch of the offer, the two banks still need to announce the transaction and the offer price, before going back for regulatory approvals again.