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Saxo Bank extends offer period for BinckBank acquisition

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Saxo Bank extends offer period for BinckBank acquisition

Saxo Bank A/S will extend the offer period of its acquisition of BinckBank NV as the process to obtain regulatory approval is not yet completed.

The extended offer period will end July 31 at 5:40 p.m. Central European Time. During the period, shares tendered during the initial offer period may be withdrawn, and any shares not withdrawn will remain subject to the offer.

Both banks are expected to complete all necessary regulatory clearance procedures before July 31, assuming that at least 80% of the shares are tendered under the offer.

As previously announced, the acquisition is expected to close in the third quarter.