|Delayed - 01/21 10:59:40 am|
Spar Nord Bank A/S cancelled the acquisition of remaining 63.33% stake in Danske Andelskassers Bank A/S.09/20/2021 | 12:00am
Spar Nord Bank A/S (CPSE:SPNO) made a mandatory public offer to acquire the remaining 63.33% stake in Danske Andelskassers Bank A/S (CPSE:DAB) for DKK 1.1 billion on August 17, 2021. The price per share in the Purchase Offer must at least correspond to the highest price per share that Spar Nord has paid per share within the last six months prior to the approval of The Offer Document. This amounts to DKK 10.35 per share. As a result of the offer Spar Nord Bank A/S intends to increase its shareholding in Danske Andelskassers Bank A/S from 36.67% to 100%. As of September 20, 2021, Board of Directors recommended shareholders to not to accept the compulsory bid. The period is subjected to run till October 11, 2021 subject to extension of offer period. Spar Nord Bank A/S (CPSE:SPNO) cancelled the acquisition of remaining 63.33% stake in Danske Andelskassers Bank A/S (CPSE:DAB) on September 20, 2021. Chairman of the board Anders Howalt-Hestbech said the bank's strategy is to remain an independent bank.
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