Buzz in the Finnish banking sector as S-Pankki makes a takeover bid for Oma Säästöpankki:
S-Pankki is making a takeover bid of nearly 600 million euros for Oma Säästöpankki, which is listed on the Helsinki Stock Exchange.
The banks announced the cash tender offer in their press releases.
The offer price per share is 17.20 euros, which is approximately 47 percent higher than Oma Säästöpankki’s closing share price on Wednesday.
With the cash consideration offered, the value of Oma Säästöpankki is approximately 571.4 million euros. The takeover bid is expected to be completed during the fourth quarter of the current year.