Raiffeisen Raises Addiko Takeover Offer as Bidding Race Heats Up

Raiffeisen Bank International AG improved its bid to buy Addiko Bank AG, intensifying the race to buy the Balkans consumer lending specialist.

The Austrian bank raised its offer by 15% to €26.50 ($31.04) per Addiko share, according to a statement Wednesday. That price is 10% below the €29 per share the lender was trading in Vienna at 10:50 a.m.