Shares of NIBC Rise on EUR1.44 Billion Takeover Talks With Blackstone

Date : 02/14/2020 @ 9:13AM
Source : Dow Jones News
Stock : Nibc Holding NV (NIBC)
Quote : 9.68  -0.04 (-0.41%) @ 9:59AM

Shares of NIBC Rise on EUR1.44 Billion Takeover Talks With Blackstone

Nibc Holding NV (EU:NIBC)
Historical Stock Chart

1 Month : From Jan 2020 to Feb 2020

Click Here for more Nibc Holding NV Charts.

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 Blackstone.

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; @JaimeLlinaresT


(END) Dow Jones Newswires

February 14, 2020 03:58 ET (08:58 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.