Story
Oma Savings Bank Shares Soar 45% on €571 Million Takeover Bid From S-Bank
Summary
Finnish lender S-Bank has launched a voluntary cash tender offer for rival Oma Savings Bank, valuing the company at €571.4 million and causing its shares to surge.
Shares of Oma Savings Bank (HE:OMASP) surged 45% on Thursday after Finnish competitor S-Bank announced a voluntary cash tender offer to acquire the company, valuing it at €571.4 million.
Offer Details
S-Bank is offering €17.20 per share in cash for all outstanding shares of Oma Savings Bank. According to a press release from S-Bank, this price represents a significant premium over the target's recent trading levels:
- A 47% premium compared to Oma Savings Bank’s closing price on July 8.
- A 52.5% premium over its volume-weighted average trading price for the last 12 months.
AdBroad Shareholder and Board Support
The proposed acquisition has received unanimous recommendation from the board of Oma Savings Bank. Crucially, shareholders representing 59.9% of the company's shares have already provided irrevocable undertakings to accept the offer, signaling a high probability of the deal's completion.
S-Bank stated that the combination would create a larger, more competitive banking entity with enhanced capabilities to serve customers and adapt to the evolving requirements of the financial sector. The tender offer is expected to be finalized during the fourth quarter of 2026.