Handelsblatt: NLB won't back down in Addiko takeover fight

Slovenia's largest bank, NLB, has secured approval from the Austrian regulator to raise its takeover bid for Addiko Bank, intensifying the acquisition battle with Raiffeisen Bank International (RBI).

NLB's revised offer stands at 33.5 euros per share, a significant increase from its previous bid and notably higher than RBI's competing offer of 26.5 euros per share. This move grants shareholders who had previously accepted RBI's offer the right to withdraw their acceptance up to four trading days before the offer period closes. They can now opt to tender their Addiko shares to NLB under the revised terms.

The bidding war for Addiko Bank has attracted considerable attention from German and Austrian media. German publication Handelsblatt reported that NLB is refusing to back down in the auction for Addiko, despite RBI's earlier announcement. The situation highlights the strategic importance of Addiko Bank and the competitive landscape of the European banking sector.