NLB lowers minimum threshold for Addiko Bank takeover bid

Slovenian bank NLB has announced a significant adjustment to its voluntary takeover bid for Addiko Bank. The bank intends to lower the minimum acceptance threshold from over 75% to just over 50% of shares. This change, along with an extended offer period, aims to provide shareholders with ample time to consider the revised terms. The proposed modification will be submitted to the Austrian Takeover Commission for review.

NLB's CEO, Blaž Brodnjak, emphasized the bank's commitment to fair and transparent treatment of all Addiko shareholders. "There is no doubt that our moves once again clearly confirm our ambitions: to ensure fair, transparent, and equal treatment for all Addiko shareholders," Brodnjak stated. He added that lowering the threshold provides a stronger guarantee for the successful completion of their offer, which he described as the highest price.

The current offer from NLB stands at 37 euros per share, an increase of eight euros from its initial proposal. NLB asserts that this price offers a 39.6% premium over a competing offer from Raiffeisen. The bank also highlighted that Addiko shareholders who have already accepted Raiffeisen's offer are eligible to withdraw their acceptance.

NLB is actively competing for Addiko, positioning its offer as financially superior. The bank aims to secure a clear and transparent maximum payout for all shareholders, free from future conditional payments.

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There is no doubt that our moves once again clearly confirm our ambitions: to ensure fair, transparent, and equal treatment for all Addiko shareholders. Lowering the takeover threshold is an even stronger guarantee that our offer, which remains the highest in price, can be successfully concluded.