After the weekend passed, the companies now confirm that all of the shares of BinckBank will get acquired by the Danish multi-asset brokerage company Saxo Bank. The value of the offer represented a 35% premium over the closing price. Saxo Bank will be financing the deal with cash in hand and an additional injection of equity from shareholders.
The deal is seen to improve the companies’ geographic footprint, product offerings, and customer bases, covering the full retail client spectrum from mass retail to high-end. Since its creation in 2000, BinckBank has focused on retail online trading for clients in the Netherlands and Belgium. The company also has a strong position in France and Italy.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.