Oma Savings Bank Plc said 162,829 shares were tendered in the final window of S-Bank Plc’s cash offer, with tendered and separately acquired shares now representing about 97.32% of the Finnish lender.
The later-period tenders amounted to about 0.49% of Oma Savings Bank’s issued and outstanding shares and votes, excluding treasury shares. The final count was up from 162,531 shares in the preliminary tally Oma Savings Bank announced Oct. 23; the combined percentage remained about 97.32%.
The initial offer period brought in 32,152,993 shares, about 96.78% of the bank’s shares and votes. S-Bank said that result cleared the offer’s minimum acceptance threshold of more than 90%. The subsequent period ended Oct. 22.
S-Bank has said the combination is intended to increase its scale and capacity to develop banking services. On Oct. 8, it said it had decided to exercise its right to redeem the remaining minority shares through arbitration and would seek €17.20 per share. It also intends to request Oma Savings Bank’s delisting from Nasdaq Helsinki when permitted.
The offer pays €17.20 in cash per share. Payment for shares tendered in the later window is expected around Nov. 2, with the date funds arrive depending on interbank processing.
