NLB Scraps Plan to Buy Addiko Bank After Offer Misses 75% Threshold
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Nova Ljubljanska banka d.d. scrapped a plan to buy Vienna-based Addiko Bank after failing to persuade enough shareholders to tender their stock.
Addiko shareholders representing 36.4% of the shares had accepted the offer by end of the offer period, according to a statement published on Tuesday. That’s short of the 75% minimum that the Slovenian bidder had set. NLB first offered €20 ($22.23) per share of Addiko, but later boosted the price to €22.