Blackstone looking to revise price for NIBC holding acquisition
- The MergerSight Group
- May 20, 2020
- 1 min read
Blackstone is seeking to reduce the previously agreed-upon $1.4B purchase price for Dutch lender NIBC holding.
"In light of the emerging widespread impact of COVID-19 and macroeconomic developments, the offeror believes there is substantial uncertainty concerning the transaction-related business plan and it continuing to be a realistic basis for obtaining regulatory clearance for the transaction."
Statement issued by Blackstone
Blackstone is citing the effects COVID-19 has had on the bank’s business prospects. Despite Blackstone’s desire to lower the price of the acquisition, they have clearly expressed that they have no desire to walk away from the deal.
