Saxo Bank Buys Dutch Discount Broker BinckBank for €424m
- The deal between Saxo Bank and BinckBank will result in staff consolidation in the next few years.
Saxo Bank has agreed to purchase Dutch online discount brokerage company BinckBank. The deal was circulating on Friday as Finance Magnates reported on a potential €425 million transaction.
After the weekend passed, the companies now confirm that all of the shares of BinckBank will get acquired by the Danish multi-asset brokerage company. The deal is worth circa €425 million with all of the Dutch company’s shares being purchased for cash at €6.35 per share.
The value of the offer represented a 35 percent premium over the closing price on Friday. Saxo Bank will be financing the deal with cash in hand and an additional injection of equity from shareholders.
Acquisition Rationale
The companies are highlighting some synergies that they say will ultimately make them better positioned for the current market dynamics. The deal is seen to improve the companies’ geographic footprint, product offerings, and customer bases, covering the full retail client spectrum from mass retail to high-end.
Saxo Bank’s CEO and founder Kim Fournais highlighted that the merger would yield the necessary scale to further increase investments in new technology and talent.
“As the investment and trading industry matures and faces new Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, as well as rising expectations for digital client experience, scale, technology and multi-asset capabilities, become increasingly key to long-term success,” said Fournais.
BinckBank Client Base
Since its creation in 2000, BinckBank has become a retail Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term leader for retail clients in the Netherlands and Belgium. The company also has a strong position in France and Italy.
The chairman of BinckBank’s executive board Vincent Germyns said that the merger would help both companies realize significant economies of scale. In the coming two to three years, the deal will result in staff consolidation.
“The proposed transaction is the result of extensive negotiations between BinckBank and Saxo Bank over a period of several months and a shared vision for the combination going forward,” said John van der Steen, chairman of the BinckBank supervisory board.
Saxo Bank has agreed to purchase Dutch online discount brokerage company BinckBank. The deal was circulating on Friday as Finance Magnates reported on a potential €425 million transaction.
After the weekend passed, the companies now confirm that all of the shares of BinckBank will get acquired by the Danish multi-asset brokerage company. The deal is worth circa €425 million with all of the Dutch company’s shares being purchased for cash at €6.35 per share.
The value of the offer represented a 35 percent premium over the closing price on Friday. Saxo Bank will be financing the deal with cash in hand and an additional injection of equity from shareholders.
Acquisition Rationale
The companies are highlighting some synergies that they say will ultimately make them better positioned for the current market dynamics. The deal is seen to improve the companies’ geographic footprint, product offerings, and customer bases, covering the full retail client spectrum from mass retail to high-end.
Saxo Bank’s CEO and founder Kim Fournais highlighted that the merger would yield the necessary scale to further increase investments in new technology and talent.
“As the investment and trading industry matures and faces new Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, as well as rising expectations for digital client experience, scale, technology and multi-asset capabilities, become increasingly key to long-term success,” said Fournais.
BinckBank Client Base
Since its creation in 2000, BinckBank has become a retail Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term leader for retail clients in the Netherlands and Belgium. The company also has a strong position in France and Italy.
The chairman of BinckBank’s executive board Vincent Germyns said that the merger would help both companies realize significant economies of scale. In the coming two to three years, the deal will result in staff consolidation.
“The proposed transaction is the result of extensive negotiations between BinckBank and Saxo Bank over a period of several months and a shared vision for the combination going forward,” said John van der Steen, chairman of the BinckBank supervisory board.