Denmark-based Saxo Bank A/S is in advanced discussions to acquire Dutch online brokerage BinckBank NV.
BinckBank said Dec. 14 that Saxo Bank offered to acquire it at €6.35 per share in cash.
People familiar with the matter told Bloomberg News that the Dutch firm is working with advisers in reviewing Saxo Bank's offer and could announce a deal within weeks. However, BinckBank said there was no certainty the transaction would materialize. The Danish lender's €6.35-per-share offer values the potential deal at approximately €429 million, according to the report.
BinckBank operates in the Netherlands under the brands Binck and Alex and also has a presence in Belgium, France, Italy and Spain.