Supervisory Board statement
WestLB's supervisory Board considers BayernLB's decision to break off its examination of a potential merger with WestLB as premature and unjustified
The supervisory Board was informed by the Managing Board yesterday concerning BayernLB's decision. The supervisory Board notes that there has not been any detailed examination of the potential synergies and that the data rooms had at BayernLB's behest not been opened to allow such examination. The supervisory Board therefore finds BayernLB's decision premature and unjustified. It believes that the analysis so far had evinced positive commercial and strategic synergies for both institutes.
BayernLB's premature decision to break off the merger examination has in the supervisory Board's view missed a commercially rich option that could have progressed the necessary consolidation of the Landesbank sector. The successful restructuring of WestLB its subsequent focus on client activities makes WestLB an attractive partner for alternative merger scenarios.