Slovenia's NLB Outbids Raiffeisen with Higher Offer for Addiko Bank
Nova Ljubljanska Banka (NLB), Slovenia’s largest lender, has escalated the competition for Austria-headquartered Addiko Bank by submitting a superior takeover proposal. NLB announced plans to acquire Addiko for 565.5 million euros ($661.6 million), offering 29.00 euros in cash per share. This bid represents a premium of nearly 12% over Addiko’s closing stock price on Wednesday and is 26% higher than the competing offer from Raiffeisen Bank International, which proposed 23.05 euros per share. The move intensifies the contest for Addiko’s southeastern European network, following Raiffeisen’s bid announced just one day prior. NLB had previously attempted to purchase Addiko in 2024. The takeover battle occurs amidst regulatory scrutiny, as the European Central Bank recently suspended certain voting rights and banned dividend payments for Addiko due to concerns regarding its fragmented shareholder base. This development highlights significant consolidation activity within the Central and Eastern European banking sector, with major regional players vying for strategic assets.
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Slovenia's NLB Outbids Raiffeisen with Higher Offer for Addiko Bank
Nova Ljubljanska Banka (NLB), Slovenia’s largest lender, has escalated the competition for Austria-headquartered Addiko Bank by submitting a superior takeover proposal. NLB announced plans to acquire Addiko for 565.5 million euros ($661.6 million), offering 29.00 euros in cash per share. This bid represents a premium of nearly 12% over Addiko’s closing stock price on Wednesday and is 26% higher than the competing offer from Raiffeisen Bank International, which proposed 23.05 euros per share. The move intensifies the contest for Addiko’s southeastern European network, following Raiffeisen’s bid announced just one day prior. NLB had previously attempted to purchase Addiko in 2024. The takeover battle occurs amidst regulatory scrutiny, as the European Central Bank recently suspended certain voting rights and banned dividend payments for Addiko due to concerns regarding its fragmented shareholder base. This development highlights significant consolidation activity within the Central and Eastern European banking sector, with major regional players vying for strategic assets.
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