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Nykredit to Acquire Spar Nord Bank in Major Danish Banking Merger
Denmark's Nykredit has made a DKr24bn ($3.5bn) cash offer to acquire Spar Nord Bank, representing a 49% premium on its share price, with completion expected in the first half of 2025. In other news, AllianceBernstein plans to sue Switzerland over the $17bn writedown of Credit Suisse's AT1 bonds, joining a lawsuit that claims investor rights were violated during the UBS takeover. Additionally, DBS Group, Mitsubishi UFJ Financial Group, and Sumitomo Mitsui Financial Group are potential bidders for Indonesia's Panin Bank, which has seen a significant rise in its share value this year. Morgan Stanley will pay $15mn to settle SEC allegations regarding inadequate fraud prevention measures at its Smith Barney unit.
Nykredit to acquire Spar Nord Bank in 3.5 billion dollar deal
Denmark’s largest mortgage lender, Nykredit Realkredit A/S, has agreed to acquire Spar Nord Bank A/S for approximately 24.7 billion kroner ($3.5 billion). The deal, which values Spar Nord at 210 kroner per share, has received the recommendation of Spar Nord’s board.
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