Finnish insurer Sampo offers $4.7 bln for Denmark's Topdanmark (updated)
17/06/2024 06:55
(Adds share premium, quote in paragraphs 2-3)
OSLO, June 17 (Reuters) - Finnish insurer Sampo
SAMPO.HE has agreed to buy Danish rival Topdanmark TOP.CO
for 33 billion Danish crowns ($4.73 billion) in an all-share
deal, the two companies said on Monday.
Based on Friday's closing share prices, the offer represents
a 27% premium per share for the owners of property and casualty
(P&C) insurer Topdanmark, they said in a joint statement.
"By combining the businesses in a fully integrated
Nordic operating platform, we can unlock growth and attractive
synergies that will strengthen our position as a leading Danish
P&C insurer," Sampo CEO Torbjorn Magnusson said.
($1 = 6.9694 Danish crowns)
(Reporting by Terje Solsvik, editing by Anna Ringstrom)
((terje.solsvik@thomsonreuters.com; +47 918 666 70;))