NLB Group Gets Approval to Trim Acceptance Threshold in Takeover Offer for Addiko Bank
Nova Ljubljanska banka d.d., Ljubljana (NLB.L, NLB.IL), d/b/a NLB Group, said Wednesday the Austrian Takeover Commission approved its proposal to reduce the acceptance threshold in its takeover offer for Austrian banking group Addiko Bank (ADKO.VI). The Slovenian financial group proposed lowering the acceptance threshold for the 37 euro-per-share offer to 50% plus one share, from 75% previously. The commission also approved extending the acceptance period to July 29. Meanwhile, NLB Group is urging Addiko shareholders to support its "superior" proposal amid a competing offer from Austria-based lender Raiffeisen Bank International (RBI.VI). It noted that its offer has already received merger clearance in Serbia, Austria, and North Macedonia.
Nova Ljubljanska banka d.d., Ljubljana (NLB.L, NLB.IL), d/b/a NLB Group, said Wednesday the Austrian Takeover Commission approved its proposal to reduce the acceptance threshold in its takeover offer for Austrian banking group Addiko Bank (ADKO.VI).
The Slovenian financial group proposed lowering the acceptance threshold for the 37 euro-per-share offer to 50% plus one share, from 75% previously.
The commission also approved extending the acceptance period to July 29.
Meanwhile, NLB Group is urging Addiko shareholders to support its "superior" proposal amid a competing offer from Austria-based lender Raiffeisen Bank International (RBI.VI).
It noted that its offer has already received merger clearance in Serbia, Austria, and North Macedonia.