National Bank of Greece Says Alpha Takeover Bid ‘Compelling’
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National Bank of Greece SA, the nation’s largest lender, said its 3 billion-euro ($4.1 billion) bid for Alpha Bank SA, the third-biggest, will be received positively by investors after Alpha spurned the offer.
“The strategic and financial merits of the combination are compelling to both banks and their respective shareholders,” Chief Executive Officer Apostolos Tamvakakis said on a conference call today. “We are confident that the market will receive this proposal positively and express its position accordingly.” He wouldn’t take questions from reporters.