Sampo group nears takeover of Topdanmark

The Finnish insurer Sampo Group is one step closer to acquiring Danish insurance company Topdanmark following the receipt of the last necessary regulatory approvals. Shareholders of Topdanmark are set to consider Sampo’s offer in September, with the acquisition pending their approval. The bid is already supported by Topdanmark’s board and several shareholders, where shareholders are offered 1.25 new Sampo shares for each Topdanmark share. Despite the potential acquisition, Sampo has stated Topdanmark customers and employees will likely not experience significant changes, as the company will retain its name and headquarters in Ballerup. Vice-Chairman Jens Aaløse has mentioned that the merger will benefit shareholders and strengthen the conglomerate’s position in both Danish and Nordic markets. Currently, Sampo owns 48.3% of Topdanmark’s shares and 49.4% of the voting rights.