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Saxo Bank agrees to acquire BinckBank in all-cash deal

Saxo Bank A/S agreed to acquire Dutch online brokerage BinckBank NV for €6.35 per share in cash.

The Danish lender's offer represents a total consideration of €424 million, and the offer price is a 35% premium over the closing price of Dec. 14, when the lenders were in advanced talks for this deal.

The lenders expect the deal to close in the third quarter of 2019.