S-Pankki launches bid to acquire Oma Säästöpankki

S-Pankki has announced a public offer to purchase all outstanding shares of Oma Säästöpankki, according to a statement reported by Finnish public broadcaster Yle.

The offer values each share at €17.20, bringing the total proposed transaction to approximately €571.4 million.

S-Pankki stated its aim is to acquire all issued and outstanding shares of Oma Säästöpankki and subsequently delist the bank from the Nasdaq Helsinki regulated market. The goal is to merge the two Finnish banks.