BinckBank: agreement for takeover bid from Saxo Bank
(CercleFinance.com) - BinckBank and Saxo Bank say that they have entered into a conditional agreement on a recommended takeover bid of 6.
35 euros (dividend attached) per outstanding BinckBank share, representing a total of 424 million euros.
The transaction has received unanimous support from BinckBank's management and supervisory boards. The proposed price represents a premium of 35% relative to the closing price on Friday and 42% relative to the weighted average price of volumes over the last calendar month.
A memorandum on the draft offer will be submitted to the Dutch financial markets authority before the end of Q1 2019 and the closing of the offer is expected in Q3 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
35 euros (dividend attached) per outstanding BinckBank share, representing a total of 424 million euros.
The transaction has received unanimous support from BinckBank's management and supervisory boards. The proposed price represents a premium of 35% relative to the closing price on Friday and 42% relative to the weighted average price of volumes over the last calendar month.
A memorandum on the draft offer will be submitted to the Dutch financial markets authority before the end of Q1 2019 and the closing of the offer is expected in Q3 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.