Finland’s Sampo to Buy $4.7 Billion Valued Topdanmark (Correct)

Finland’s Sampo Oyj agreed to buy Topdanmark A/S in an all-share deal that valued the target at 33 billion kroner ($4.7 billion), consolidating the insurance landscape in Denmark.

Sampo, which already holds almost half the shares in Topdanmark, said other shareholders will be offered 1.25 new A shares in Sampo for each stock in Topdanmark. The offer represented a premium of 27% to Topdanmark’s last closing price, Helsinki-based Sampo said on Monday before trading started.

Topdanmark shares rose as much as 23% in Copenhagen at the Monday open while Sampo shares declined as much as 3.6% in Helsinki.

Sampo ...