March 13, 2018 / 1:49 PM / 3 months ago

UPDATE 1-Denmark's Jyske Bank makes $320 mln bid for Nordjyske stake

(Adds details, Nordjyske board statement, analyst)

COPENHAGEN, March 13 (Reuters) - Denmark’s second-largest lender Jyske Bank said on Tuesday it had made an offer worth 1.92 billion Danish crowns ($318 million) to take full control of Nordjyske Bank.

Jyske Bank owns nearly 40 percent of Nordjyske, whose share price rose 39 percent on Tuesday to 166 crowns, just shy of the 170 crowns per share offered by Jyske.

The bid came without any prior talks with Nordjyske’s board, which recommended shareholders await its assessment of a formal bid which is due within four weeks.

Jyske Bank expanded its stake in Nordjyske Bank, a regional bank in Northern Jutland, beginning in 2014 to support Nordjyske in its takeover of smaller peer Noerresundby Bank.

Jyske Bank said it attempted to divest the stake last year but has not been successful so far. Instead, it now is looking to take over the whole bank, it said.

Jyske Bank is Denmark’s second-largest bank behind Danske Bank, but holds a smaller market share in the country than Sweden-based Nordea.

$1 = 6.0368 Danish crowns Reporting by Teis Jensen, editing by Jacob Gronholt-Pedersen and Jason Neely

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