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Sweden's Nordax makes an improved bid for Bank Norwegian parent

Sweden's Nordax makes an improved bid for Bank Norwegian parent
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EUROPEAN MIDDAY BRIEFING: More Consumer Price -2-

EUROPEAN MIDDAY BRIEFING: More Consumer Price -2-
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News Highlights: Top Financial Services News of the Day

News Highlights: Top Financial Services News of the Day
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Sweden's Nordax bids $2.1 billion for Bank Norwegian parent, shares jump

Sweden's Nordax bids $2.1 billion for Bank Norwegian parent, shares jump
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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Sweden's Nordax bids $2.1 billion for Bank Norwegian parent, shares jump

By Reuters Staff
2 Min Read
OSLO/STOCKHOLM (Reuters) - Sweden’s Nordax Bank offered on Thursday to buy Oslo-listed Norwegian Finans Holding, the owner of Bank Norwegian, in a cash transaction valued at 17.8 billion Norwegian crowns ($2.10 billion).
Norwegian Finans (NFH) shares surged 21% to trade at 99 crowns by 1057 GMT, above Nordax’s bid of 95, suggesting investors expect more bids could emerge.
“Nordax strongly believes that Bank Norwegian will have excellent opportunities to further expand its business together with Nordax,” the Swedish firm said.
Nordax said it had previously made undisclosed proposals to the board of NFH, although Thursday’s offer was higher and contained fewer conditions. ....

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