Nykredit Secures Over 80% of Spar Nord with $3.6 Billion Bid

Danish bank Nykredit announced on Wednesday that it has acquired over 80% of Spar Nord Bank following a $3.6 billion transaction last year. Nykredit intends to finalize the takeover and delisting of Spar Nord Bank's stock. The offer period for Spar Nord shareholders has been prolonged until April 3, according to Nykredit's statement. The two firms initially disclosed their agreed upon 24.7 billion Danish crowns ($3.61 billion) offer in December and aim to establish Denmark's third-largest bank.