Paribas says no to offer from BNP

Article Abstract:

The board of directors of Paribas SA turned down Banque Nationale de Paris SA's (BNP) increased bid. Paribas' board also restated its support for Societe Generale SA's offer. Paribas' board called BNP's offer "inadequate." BNP is attempting to prevent a merger between Paribas and Societe Generale with a $41 billion (40.3 billion euros) bid for both banks. The proposed three-way merger would form the largest bank in the world in terms of assets.

Comment:

Paribas' board of directors turns down BNP's increased bid; Paribas board restates support for Societe Generale's bid

Foreign operations, Switzerland, Abstract, Societe Generale S.A., Paribas S.A., Banque Nationale de Paris (Schweiz) S.A.

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Belgian regulator backs BNP Paribas buyout bid

Article Abstract:

BNP Paribas SA's offer to acquire its Cobepa SA unit from minority shareholders has been approved by Belgium's financial regulator. The approval represents an embarrassing change of mind for the regulator, who had threatened to take the company to court unless it increased its buyout bid.

Belgium, BNP Paribas S.A., Cobepa S.A.

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