No finalized, company-specific lists are presented. In general, Danske and Nordea, as well as other Nordic and non-Nordic players, are screening for acquisition targets. There is little belief in a large pan-Nordic bank merger, but smaller cases may come onto the market.
In particular, they are now looking for successful players in asset management. This is because it would reduce Nordea’s and Danske’s dependence on interest rate trends. Asset management is also considered interesting because it helps deepen customer relationships with the banking group and generally creates synergies.
In behind-the-scenes sounding out, the price tags for these players have inflated recently, if they are even for sale at all. There are also non-Nordic competitors who would like to get their hands on them.
Overall, it also occurred to me that in the same Nordic arena, Mandatum is probably also scouting for acquisitions with a focus on asset management, isn’t it?