Swap ratio fixed for Vijaya Bank, BoB, Dena Bank merger

Moneycontrol News

Bank of Baroda announced on January 2 the fair equity share exchange ratio for shareholders of Vijaya Bank and Dena Bank.

According to a release filed with the exchanges, Bank of Baroda said Vijaya Bank shareholders will receive 402 shares of BoB for 1,000 shares held of Vijaya Bank. Dena Bank’s shareholders will receive 110 shares of BoB for every 1,000 shares.

The board of directors of BoB had decided to give its 'in-principle approval' for the amalgamation of Vijaya Bank and Dena Bank with BoB at a meeting held on September 29, 2018, according to a release filed with the exchanges.