Extension of Offer Period by Nykredit
Nykredit has officially announced that the offer period for its takeover bid has been extended to April 24, 2025.
This extension comes in the wake of the need to secure specific regulatory approvals from the Danish Competition and Consumer Authority. This regulatory clearance is crucial for the completion of the all-cash voluntary takeover offer for Spar Nord Bank A/S.
Details of the Offer
Nykredit's original announcement regarding the acquisition indicated that the offer document had been published on January 8, 2025. Initially, the offer period was set to expire on April 3, 2025. However, the recent developments necessitated an extension, and the new expiration date is now set for April 24, 2025, at 23:59 CEST. This adjustment aims to accommodate all parties involved and ensure compliance with regulatory requirements.
Implications of the Extended Offer
As part of the offer's adjustment, shareholders of Spar Nord Bank who have previously accepted the offer need not take any further actions. Their acceptances remain binding, and they will automatically benefit from the newly set offer price. Following the latest adjustments, the offer price per share will be increased by DKK 0.50 to a total of DKK 210.50.
All current shareholders who have accepted the offer will be considered under this improved pricing model. It is essential for shareholders to note that the extension does not alter other terms and conditions set by Nykredit or the unanimous recommendation from the Spar Nord board for shareholders to accept this offer.
Future Expectations
The expected completion date for the offer, given there are no further extensions, is now projected to be on May 2, 2025. This timeline pushes the settlement of the offer price for accepting shareholders to a later date but assures all participants that their interests are being prioritized during this transition.
Spar Nord’s board of directors remains optimistic about the acquisition process and assures its shareholders of the strategic benefits that this takeover will entail. With proper regulatory approvals in place, the future of both Nykredit and Spar Nord appears promising as they forge ahead.
Company Contact Information
For media inquiries, Neel Rosenberg can be reached at +45 25 27 04 33, while CFO Rune Brandt Børglum is available for investors at +45 96 34 42 36. Open communication lines ensure that both media and investors are kept well-informed of developments as they unfold.
Frequently Asked Questions
What is the new expiration date for the offer period?
The offer period has been extended to April 24, 2025.
How has the offer price changed?
The offer price per share has increased by DKK 0.50, making it DKK 210.50 per share.
Do current shareholders need to take any action?
No, existing acceptances remain binding, and no further action is needed from shareholders who have previously accepted the offer.
When is the expected completion of the offer?
The offer is expected to be completed on May 2, 2025, assuming no further extensions.
Who can I contact for more information?
Media inquiries can be directed to Neel Rosenberg at +45 25 27 04 33, and investors can contact CFO Rune Brandt Børglum at +45 96 34 42 36.
