Addiko Bank

Slovenian NLB received support from Wellington Management, with shareholders holding at least 28.9% of Addiko shares having committed to accept its offer. NLB offers €37.00 per share and had lowered the minimum acceptance threshold to 50% plus one share. Rival Raiffeisen Bank International remains in the lead: it says it has already tendered 55.5% of the shares and is offering €26.50 per share plus possible future payments. Shareholders can still withdraw from the RBI offer until Thursday at 5:00 p.m.; the deadline for both offers is July 29. » More on handelsblatt.com

Nova Ljubljanska Banka (NLB) has received approval from the Austrian Takeover Commission to lower the minimum acceptance threshold for its voluntary takeover offer for Addiko from 75% to 50% plus one share (9,750,001 shares) and to extend the deadline to July 29. The offer price is €37.00 per Addiko share cum dividend, representing a 39.6% premium to the competing RBI offer; NLB values the total offer at around €365m, versus about €262m for RBI. Shareholders who have already accepted the RBI offer can withdraw until July 23 and switch to the NLB offer; the transaction has already received merger-control clearances in Serbia, Austria and North Macedonia. » More on de.investing.com

Addiko Bank has provisioned €33.1–48.8 million as a precaution against legal risks from rulings on Swiss-franc loans in Croatia and Slovenia and has suspended its financial guidance. The decisions relate to calculations for conversions and compensation payments and could have wide-reaching effects on the banking sectors in both countries; Addiko is examining legal options. Despite the charges and potential takeover costs, the group's common equity tier 1 ratio remains strong at 21.7 percent, well above regulatory requirements; the bank is also at the center of a bidding contest between RBI and NLB. » More on handelsblatt.com

Slovenian Nova Ljubljanska Banka (NLB) raises its voluntary takeover offer for Addiko from €33.50 to €37.00 per share, valuing the bank at around €721 million. With this, NLB outbids Raiffeisen Bank International by €10.50, which has already secured more than 50% of the shares. The acceptance period runs until July 22; NLB needs a 75% acceptance rate and therefore depends on shareholders withdrawing commitments to the rival. NLB concedes potential regulatory hurdles in Croatia but says it is confident of obtaining the necessary approvals in time. » More on handelsblatt.com

In the bidding battle for Addiko, Slovenian NLB has raised its offer to €33.50 per share and announced approval from the takeover commission. However, RBI said that 50.42% of the shares have been tendered to it, including a package from the Alta Group, which puts it mathematically in the lead. Shareholders can withdraw accepted RBI offers up to four trading days before the deadline; the acceptance period runs until July 22. NLB values Addiko at about €653 million, the RBI offer equals roughly €517 million; the stock last traded at €26.00. » More on handelsblatt.com