Saxo Bank takes over BinckBank

Online broker BinckBank is taken over by the Danish Saxo Bank. Like Saxo, BinckBank facilitates trading on the agricultural futures market (EEX).

For the time being, there appear to be no consequences for trading on the potato futures market. It is expected that the trading platforms of Saxo Bank and BinckBank will be merged in the near future.

No short term change
Nothing will change in the short term, because the approval of the takeover is pending. The application is expected to be submitted to the Netherlands Authority for the Financial Markets (AFM) at the end of the first quarter of 2019. The bidding process is not expected to be completed until the third quarter of 2019.

According to the companies, the board of BinckBank unanimously supports the acquisition by Saxo BANK. The shareholders are therefore advised to agree to the offer. 

Financial details
On Friday December 14, it emerged that Saxo Bank is willing to pay €6,35 per share, including the dividend, for BinckBank. This valued the company at €424 million. The offer price is 35% higher than BinckBank's closing price of €4,72 (December 14).

Anne-Jan Doorn

Anne Jan Doorn is an arable expert at Boerenbusiness. He writes about the various arable farming markets and also focuses on the land and energy market.

aj.doorn@boerenbusiness. Nl

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