Updated

Updated · Bloomberg · Jun 25

NLB Raises Addiko Bid to €722 Million as Raiffeisen Holds More Than Half the Shares

Updated

Updated · Bloomberg · Jun 25

NLB Raises Addiko Bid to €722 Million as Raiffeisen Holds More Than Half the Shares

Q: With most shares pledged to a rival, can Slovenia's NLB still win its €722 million bid for Croatia's Addiko Bank?

Yes. NLB can still win Addiko, but only if it persuades enough shareholders to revoke earlier acceptances for Raiffeisen and retender into its higher offer before the deadline. The key fact is that Raiffeisen may already have more than half of Addiko’s shares pledged, but those commitments are not necessarily final. Under the takeover process, shareholders who accepted a competing bid can still switch during the offer period. That is why NLB raised its price again, valuing Addiko at about €722 million, to make changing sides financially attractive. NLB’s path is therefore clear but narrow. Its improved bid reportedly stands well above Raiffeisen’s offer, giving investors a strong economic reason to reconsider. If enough shareholders move, NLB could still reach the required acceptance threshold, which is critical for control of the bank. The obstacles are also significant. Raiffeisen has momentum, existing shareholder support and its own strategic logic in the region. With less than a month left, NLB must convert price advantage into actual share switches, not just interest. In bank takeovers, timing, regulatory approvals and certainty of execution matter almost as much as headline price. So the contest is still open. NLB is not blocked simply because most shares were tendered to a rival, but it now needs a late reversal by shareholders on a large enough scale to overcome Raiffeisen’s lead.

1 articles · Updated · Bloomberg · Jun 25

NLB last week lifted its Addiko Bank offer for a second time, valuing the target at €722 million with less than a month left in the tender period.
A 40% premium is central to NLB’s pitch, with CEO Blaz Brodnjak urging investors they can still switch even after more than half of Addiko shares were tendered to Raiffeisen Bank International.
The higher bid keeps alive NLB’s two-year push to buy Addiko and secure a foothold in neighboring Croatia despite the rival offer already drawing majority support.

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Bloomberg6h ago

NLB Raises Addiko Bank Offer to €722M Amid Bidding War for Croatian Foothold

With most shares pledged to a rival, can Slovenia's NLB still win its €722 million bid for Croatia's Addiko Bank?

Beyond the price tag, what are the hidden risks for the ultimate winner in the fight for Addiko Bank?

Is this bidding war a sign of strength or a scramble for survival in a volatile global market?

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Left100%

Bloomberg6h ago

NLB Raises Addiko Bank Offer to €722M Amid Bidding War for Croatian Foothold

NLB Raises Addiko Bid to €722 Million as Raiffeisen Holds More Than Half the Shares

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