Two years ago we speculated about Bank Danamon (BDMN) as one of potential acquisition targets by the Bank of Tokyo-Mitsubishi UFJ (BTMU). Today, Danamon confirmed BTMU’s plan to acquire majority shares in the bank from Temasek Holding’s Asia Financial Indonesia Pte Ltd. Shares of the bank surged by 18% to Rp5725 on Thursday to make a market capitalization of Rp54.9 trillion.To subscribe please click here