Saxo Bank drops merger and listing talks amid challenging markets (updated)

2026 Corporate Holdings

07/12/2022 08:02

(Adds quote, background)
       COPENHAGEN, Dec 7 (Reuters) - Denmark's Saxo Bank on
Wednesday said it had terminated discussions regarding a
proposed business combination with  special purpose acquisition
company (SPAC) Disruptive Capital Acquisition  DCACS.AS  due to
challenging market conditions.
    Saxo announced in September it was exploring a listing on
Amsterdam's stock exchange through the proposed merger.
    "It has after careful consideration been determined that the
timing is not optimal," Saxo Bank said in a statement.
        "Challenging market conditions is the main reason for
the cancellation of the discussions to explore a listing through
the proposed business combination," it added. 
  
        Disruptive Capital Acquisition was launched by British
finance veteran Edi Truell in October last year, targeting
financial services companies.
  
 (Reporting by Stine Jacobsen and Nikolaj Skydsgaard, editing by
Terje Solsvik)
 ((stine.jacobsen@thomsonreuters.com; +45 21 56 90 10;))