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