The revised proposal marks a sharp departure from NLB’s initial cash offer of 29 euros per share. By jumping to 37 euros, the group aims to decisively outmaneuver the Austrian banking giant Raiffeisen, which recently raised its own offer to 516.75 million euros, or 26.50 euros per share.
In section Market Quotes
NLB Escalates Battle for Addiko Bank With $838 Million Bid
Nova Ljubljanska Banka has aggressively countered its rival Raiffeisen in the race for Addiko Bank, announcing a sweetened takeover offer of 721.5 million euros. The Slovenian group is now dangling 37 euros per share before investors, positioning its bid significantly above the current market value of the Vienna-based lender.
This tactical move leaves Raiffeisen trailing by 10.50 euros per share, creating a substantial hurdle for the competing bid. Addiko shares, which closed at 26.4 euros on Tuesday, are expected to react sharply to the premium offered by the Slovenian group. The competition underscores the strategic value of Addiko’s regional footprint, forcing both suitors to deepen their pockets to secure control.
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