Norwegian lender DNB raises bid for rival Sbanken

A DNB bank sign is seen on the bank’s branch in Stavanger, Norway December 5, 2019. REUTERS/Ints Kalnins/Files

OSLO (Reuters) – Norway’s largest bank DNB said on Monday it had raised its bid for domestic rival Sbanken by around 4.5% to 11.6 billion crowns ($1.4 billion).

DNB’s offer, which is subject to regulatory approval, now values each Sbanken share at 108.85 crowns.

“This is the offerer’s best and final offer price,” DNB said in a statement.

($1 = 8.2721 Norwegian crowns)

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