The government did not exert any influence in the landmark merger between the country's second largest financial group, Bumiputra-Commerce Holdings and Southern Bank.

"We didn't interfere at all. The decision was in the hand of the (banks') board of directors and its shareholders," Second Finance Minister Nor Mohamed Yakcop told the Dewan Rakyat today.

He was replying to Lim Kit Siang (DAP-Ipoh Timor) who questioned the merger deal was not transparent and whether there was government's involvement during the ministerial winding-up.

On March 15, Bumiputra-Commerce ended months of speculation by officially announcing the landmark takeover of Southern Bank in the country's largest-ever corporate deal.

The deal, worth RM6.7 billion sees Bumiputra-Commerce, through its unit CIMB led by Nazir Razak offered a price of RM4.30 per Southern Bank share plus a five sen dividend each.