BoB sets share swap ratio for merger with Vijaya, Dena banks
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New Delhi: Bank of Baroda (BoB) on Wednesday finalised the share swap ratio for merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB.
The government in September last year had announced merger of state-owned Vijaya Bank and Dena Bank, with larger peer Bank of Baroda, aiming to create the third largest lender after SBI and ICICI Bank.
On Wednesday, BoB shares fell 3.16% to ₹119.40 apiece on the BSE while those of Vijaya Bank and Dena Bank closed flat at ₹51.50 and ₹17.95, respectively. The benchmark Sensex ended the day 1% lower at 35,891.52 points.
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