Merger failure is seen helping Handelsbanken
Article Abstract:
Svenska Handelsbanken AB has an opportunity to acquire Fokus Bank, one of the three Norwegian banks that did not realize a three-way merger plan. Fokus Bank and Christiania Banken og Kreditkasse could have merged with Postbanken to create the largest financial institution in Norway, except that the two did not agree with the proposal for the use of Norway's postal system. The failure of the merger gives hope to Handelsbanken's proposal to purchase Fokus for 5.1 billion kroner or 70 kroner per share in cash.
Comment:
Has opportunity to acquire Fokus Bank, one of 3 Norwegian banks that did not realize three-way merger plan
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Handelsbanken offers to buy Fokus, likely ruining plan for 3-way merger
Article Abstract:
Svenska Handelsbanken AB made an unsolicited 5.09 billion Norwegian kroner ($689.7 million) to purchase Norway's Fokus Bank ASA. The bid will probably hurt Fokus' plans to merge with two major banks in Norway. Fokus stockholders are being offered 70 Norwegian kroner per share by Handelsbanken. The offer came as a surprise because Fokus is already engaged in a merger with Postbanken and Christiania Bank og Kreditasse of Norway. The merger would form the largest financial group in Norway.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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