Kuwait's Boubyan Bank Supports $2B National Buyout

Law360, New York (June 20, 2012, 8:50 PM EDT) -- Kuwait's Boubyan Bank has given the green light to National Bank of Kuwait to move forward with a proposed $2.1 billion takeover, clearing one major hurdle to the deal as it vies for support from major stakeholder Commercial Bank of Kuwait, according to a letter filed with the Kuwait Stock Exchange.

After a board meeting, Boubyan Bank reportedly said National Bank of Kuwait's offer to purchase the remaining 52.7 percent stake that it does not already own is "fair and suitable," according to the filing....
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