Spar Nord Hints It’s Out of M&A Race for Handelsbanken Unit (1)

Spar Nord Bank A/S, tipped as one of the possible buyers of Svenska Handelsbanken AB’s Danish unit, said it will pay out remaining dividends for 2021, suggesting it has pulled out of the bidding race.

The news sent shares of Jyske Bank A/S, a rival bidder, down in Copenhagen trading as the market now sees it as the front-runner. Newspaper Borsen reported that Jyske is the only remaining suitor, citing people it didn’t identify.

Spar Nord, which had withheld half of last year’s returns for potential acquisitions, said “there is no longer a need” to retain the …