Slovenian lender Nova Ljubljanska Banka (NLB) has acquired nearly 30% of Addiko Bank, strengthening its position in the contested takeover with backing from US asset manager Wellington Management. Despite this, Austria’s Raiffeisen Bank International continues to lead the bidding war for the Austrian‑based Addiko Bank.
NLB, a Slovenian bank, raised its offer to acquire Addiko Bank to 37 euros per share, outbidding Austrian competitors in a takeover battle
In a competitive bidding process for Addiko Bank, NLB (Nova Ljubljanska Banka) from Slovenia raised its takeover offer to 37 euros per share, competing against Austrian bidders for control of the bank.
In a bidding contest for Addiko Bank, Austrian RBI has achieved initial success against Slovenian competitor NLB. However, NLB has not given up and has improved its takeover offer.
European airlines have failed to pay billions in passenger compensation for flight delays as required under EU261/2004 regulation. Analysis by the Financial Times shows that since 2011, €18 billion in compensation has been due to passengers, but only a small portion has actually been paid, leaving €3.2 billion currently unpaid.
The board of Addiko Bank recommends shareholders accept RBI’s takeover offer over the competing bid from Slovenian NLB, viewing RBI’s proposal as more favorable despite a lower price.