Denmark's Nykredit in $3.5 bln deal to buy Spar Nord Bank (updated)

Spar Nord Bank A/S

10/12/2024 07:43

(Adds offer premium, board statement, Nykredit stake in
paragraphs 2-4)
       OSLO, Dec 10 (Reuters) - Danish lender Nykredit will
offer 24.7 billion Danish crowns  ($3.50 billion) in an all-cash
bid to buy rival Spar Nord Bank  SPNO.CO , the two companies
said in a joint statement on Tuesday.
    The offer of 210 Danish crowns per share represented a
premium of 49% to Monday's closing price of 140.6 crowns, the
companies said.
        Spar Nord's board of directors supported the bid and
will unanimously recommend shareholders to accept the offer, it
said.
  
        Nykredit already holds a 19.6% stake in Spar Nord.
  

($1 = 7.0623 Danish crowns)

 (Reporting by Terje Solsvik, editing by Louise Rasmussen)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70;))