Lunar's offer for the deal was 3.75 kroner a share, which represents a 56.3% premium on Instabank's closing share price on March 25. Lunar already has a footprint in Denmark and Sweden, but the acquisition would expand its presence in Norway while also opening the door to the Finnish market.
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Danish neobank Lunar offers to buy Norway's Instabank for ~$150m
Instabank's board unanimously recommended the offer and the companies expect the deal to close in the second quarter, following regulatory approval.
