Regional German bank Norddeutsche Landesbank (Nord/LB) plans to launch a EUR 36.09 per share bid for listed mortgage bank Deutsche Hypothekenbank, Nord/LB said on Monday. The offer values Hanover-based Deutsche Hypo at EUR 485 mln and would rank Nord/LB as the third-largest mortage bank in Germany based on new real estate financing business. Nord/LB plans to make an official offer to Deutsche Hypo shareholders on 5 December.
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