Shares of NIBC Rise on EUR1.44 Billion Takeover Talks With Blackstone
By Jaime Llinares Taboada
Shares of NIBC Holding N.V. rose on Friday after it said that it
has received an acquisition proposal from U.S. private-equity firm
The Dutch bank said Blackstone has offered to buy all issued and
outstanding shares not owned by JC Flowers and Reggeborgh--NIBC's
two largest shareholders--at a price of EUR9.85 cum dividend, to be
paid in cash on completion.
NIBC shares at 0833 GMT were up 7.2% at EUR9.79, valuing the
company at 1.44 billion euros ($1.56 billion).
NIBC said that discussions are at an advanced stage, but there
is no assurance that the transaction will materialize.
The deal has the support of JC Flowers, which intends to sell
its 60.6% interest for EUR8.93 per share, and Reggeborgh which
would sell its 14.6% holding for EUR9.65 a share.
Write to Jaime Llinares Taboada at email@example.com;
(END) Dow Jones Newswires
February 14, 2020 03:58 ET (08:58 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.