The FINANCIAL — ING DIRECT N.V. announced on August 18 that its public takeover offer for Interhyp, Germany’s largest independent residential mortgage distributor, has closed.
ING DIRECT is very pleased with the outcome of this tender offer. 91.21 percent of Interhyp shares were tendered in total, giving ING DIRECT the desired controlling stake in the company.
The Interhyp public tender offer additional acceptance period expired last Wednesday, August 13th. Shareholders who tendered their shares to ING DIRECT by that date will be paid no later than eight banking days after that date.
ING DIRECT announced its intention to launch a public takeover bid for Interhyp on May 19th; that regulatory approval for the offer was received, on July 14th; and the start of the additional acceptance period on July 30th.
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