By Reuters Staff
2 Min Read
The Swedish flag is seen at Gamla Stan, the Old City of Stockholm, Sweden, May 7, 2017.
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FROSTY RESPONSE. Sweden’s Nordax Bank may have to raise the temperature on its bid for Oslo-listed Norwegian Finans. The would-be buyer on Thursday launched a $2.1 billion offer for the owner of Bank Norwegian. Private equity group Nordic Capital and Finnish insurer Sampo jointly control the bidder, and together also own 23% of the target. Nordax Chief Executive Jacob Lundblad probably hopes to cross-sell the two companies’ products to their customers and gain an underwriting edge by pooling data.