Sydbank to Buy Two Danish Rivals in ‘Surprise’ M&A Move
A Sydbank A/S bank branch in Copenhagen.
Photographer: Freya Ingrid Morales/Bloomberg
Sydbank A/S agreed to buy two smaller rivals in Denmark in the latest sign that bank consolidation is heating up in the Nordic country.
The lender will strengthen its position as Denmark’s fifth-largest by taking over Arbejdernes Landsbank A/S and Vestjysk Bank A/S, with the boards of all three companies backing the transaction, according to a statement on Monday. The deal will mainly consist of shares with a small partial cash element for Vestjysk shareholders.