Private Equity

Blackstone lowers €1.4bn bid for Dutch bank as Covid-19 threatens completion

Under the terms of the new deal, Blackstone would be required to pay €46m in damages if regulators do not approve the transaction or if it’s scrapped for other reasons

Blackstone has lowered its bid for Dutch bank NIBC by more than a quarter following ongoing uncertainty created by the coronavirus pandemic.

The firms announced on Monday that the bid price would be reduced to €7 per share, lowering the total value of the deal to €1bn, from the €1.36bn previously offered.

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