The road towards a National Bank- Alpha Bank merger

The merger of Alpha Bank with National Bank at an exchange rate of 8 National Bank to 11 Alpha Bank shares - i.e. 0.727 Alpha Bank shares for each National Bank share - has been proposed by the latter’s managers to the Alpha Bank board of directors, who are meeting at this time.

The proposal includes a premium of approximate 23% over the Thursday closing price for Alpha Bank’s share, as it became known that both banks have been in exclusive negotiations since February 3rd.

It is also worthy of note that the Stock Exchange administration decided to suspend the trading of both shares in the market. Both had been recording great profits, with Alpha Bank’s share gaining up to 5.6% and National Bank at 1.20%, reaching 7.58 euro.