Watchdog clears buyout offer for Takarék Mortgage Bank
The National Bank of Hungary (MNB) has approved a mandatory public purchase offer by MTB Magyar Takarékszövetkezeti Bank, the "central bank" for Hungary's integrated savings cooperatives, for the outstanding shares of listed lender Takarék Mortgage Bank, a disclosure posted on the website of the Budapest Stock Exchange shows, according to Hungarian news agency MTI.
MTB is offering HUF 599.5 per share in the offer which runs from January 19 until February 17.
Takarék Mortgage Bank shares closed at HUF 590 on Friday. The share's 180-day average price is HUF 548.
MTB holds 76.98p% of Takarék Mortgage Bank's shares, the latest data on the bourse's website shows. The state owns a 7.32% stake, 5.77% of the shares are in the Takarék Closed Investment Fund, and 9.93% is in free-float.
The buyout offer is related to MTB's merger with MKB Bank and Budapest Bank in Magyar Bankholding which is set to become Hungary's second-biggest commercial lender.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
