Norway's biggest bank, DNB no:dnb, on Thursday said it has reached an agreement with Sbanken no:sbank to buy the smaller rival in deal valued at NOK11.1 billion ($1.3 billion). In a recommended voluntary offer, DNB will pay NOK103.85 for each share of Sbanken, which represents a 29.8% premium over Wednesday's closing price of NOK80. "DNB believes that Sbanken will further strengthen its position within retail banking in its home market," the company said in a statement.
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April 15, 2021 at 01:39PM
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Norway's DNB announces all-share offer for rival Sbanken worth $1.3 billion - MarketWatch
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