John Fentener van Vlissingen, a major shareholder of BinckBank finds the bid for bank by competing Saxo Bank is too low. The FD writes this on the basis of a letter from the billionaire to the banking board.
Fentener van Vlissingen has a 6 percent share in BinckBank through its Boron investment company. Shareholders may express their views on Tuesday at the annual shareholders’ meeting on the offer of 424 million euros.
In December Saxo announced its intention to acquire BinckBank. The acquisition is unanimously supported by the executive boards and supervisory directors of BinckBank. They advise the shareholders to agree with Saxo’s offer. The works council of BinckBank gives unconditionally positive advice.