Deutsche Bank to offer €25 per share for Postbank in bid underpinned by capital increase
By APTuesday, September 21, 2010
Deutsche Bank to offer €25 per share for Postbank
BERLIN — Deutsche Bank AG says it will offer €25 ($32.69) per share for retail lender Deutsche Postbank AG in a takeover bid that will underpinned by a large capital increase.
Germany’s biggest bank currently owns just under 30 percent of Postbank. It announced its bid for a full takeover on Sept. 12, along with the capital increase, which it said this week will bring in some €10.2 billion.
Deutsche Bank said then that it would offer a cash payment equal to the volume-weighted average share price over the previous three months, likely between €24 and €25 per share.
The company said Tuesday that German financial regulator BaFin has put that price at €25.
Deutsche Bank shares tumbled 4.5 percent to €44.75. Postbank shares gained less than 1 percent.
