Spar Nord Bank: Nykredit Extends Takeover Offer Period Until March 2025
Deal News | Feb 18, 2025 | Globenewswire
Nykredit Realkredit A/S has extended its recommended voluntary public offer to acquire all shares in Spar Nord Bank A/S until March 20, 2025. This extension is aimed at providing additional time to obtain necessary approval from the Danish Competition and Consumer Authority. The offer was initially announced on December 10, 2024, at a cash price of DKK 210 per share, valuing Spar Nord at DKK 24.7 billion. As of February 2025, Nykredit holds 32.44% of Spar Nord's shares and indicates meeting the 67% acceptance threshold. The extension results in a delay in finalizing the transaction, now expected by March 28, 2025.
Sectors
- Banking
- Investment
Geography
- Denmark – Both Spar Nord Bank and Nykredit Realkredit A/S are headquartered and operate in Denmark, making Danish regulation central to the activity.
Industry
- Banking – Spar Nord Bank operates in the banking sector providing financial services, making it central to the article.
- Investment – Nykredit Realkredit A/S's involvement in acquiring Spar Nord Bank is a significant investment activity.
Financials
- DKK 24.7 billion – The total valuation of Spar Nord Bank at the offer price of DKK 210 per share.
- DKK 210 – Offer price per share in Nykredit's acquisition proposal for Spar Nord Bank.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nykredit Realkredit A/S | Bidding Company | Company | Nykredit is the largest mortgage lender in Denmark and is bidding to acquire Spar Nord Bank. |
| Spar Nord Bank A/S | Target Company | Company | Spar Nord Bank is a Danish bank focused on personal and small to medium-sized enterprise banking. |
| Danish Competition and Consumer Authority | Regulator | Government | Regulatory body involved in providing the necessary approval for the transaction. |
| Finanstilsynet | Regulatory Approval | Government | The Danish Financial Supervisory Authority, which approves the offer document. |
| Carnegie Investment Bank | Financial Advisor | Company | Carnegie is advising on the financial aspects of the offer. |