Nordea looking to pursue M&A; likely to merge with European bank - report (translated)
Nordea [STO:NDA-SEK], the Swedish financial group, could make a large M&A move by merging with another European bank, according to Kauppalehti Online.
The Finnish-language item cited Jukka Ojaharju, a strategist from Nordnet, as stating that investors are expecting Nordea to make a major M&A move soon as the company’s current share price is optimal for a deal, and Nordea could engage in M&A with its own shares.
The item further stated that Nordea is likely to merge with a larger European player as any small M&A move will not justify the demand of investors who are expecting the company to grow. Ojaharju added that with the support of Sampo, owner of 21.3% stake in Nordea, any transaction could be possible.
Kauppalehti is a Finnish business daily, which is behind a paywall.