Jyske Bank A/S (publ) (“Jyske Bank”) announced on 13 March 2018 plans to make a conditional, voluntary offer to acquire all outstanding shares in Nordjyske Bank A/S (publ) (“Nordjyske Bank”), offering DKK 170 in cash for each share (”the Offer”), corresponding to a premium of 43% compared with the closing price on 12 March 2018, the last day of trading before the announcement.
The Offer values the entire issued share capital of Nordjyske Bank at DKK 3,122m.
Jyske Bank already owns 38.47% of the outstanding share capital of Nordjyske Bank.
The Offer is subject to a number of conditions.
Nordjyske Bank engages in the provision of banking and financial services. It offers investment, retail, corporate and electronic banking. Nordjyske Bank is the 12th largest Danish bank with around 119,000 private customers and around 10,000 corporate customers. As of year-end 2017, Nordjyske Bank had 423 employees in 23 branches.