PTSB bid challenge rejected as Bawag stock trades 1.41 percent higher

Published on 10/13/2026 at 09:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Axis weighed a EUR 3.20 PTSB offer on October 12, 2026. Bawag stock costs EUR 169.35 on October 13, 2026, 1.41 percent above Xetra EUR 167.00.

The Irish Takeover Panel rejected Axis Capital's challenge to the EUR 1.6 billion Permanent TSB acquisition on October 12, 2026.
Axis Capital was considering a EUR 3.20 per share offer, compared with BAWAG's EUR 2.97 scheme price.
Bawag stock was trading at EUR 169.35 at Lang & Schwarz on October 13, 2026, 1.41 percent above the October 12 Xetra close of EUR 167.00.
BAWAG is scheduled to report third-quarter 2026 results on October 19, 2026.

Bawag, AT0000BAWAG2, Illustration mit AI erstellt.

BAWAG Group stock was trading at EUR 169.35 at Lang & Schwarz on October 13, 2026 at 9:05 a.m. CEST, 1.41 percent above the Xetra close of October 12, 2026 at EUR 167.00. The Irish Takeover Panel rejected Axis Capital's challenge to BAWAG's EUR 1.6 billion acquisition of Permanent TSB on October 12, 2026, according to RTE.

Axis offer stays above BAWAG price

Axis Capital had been considering a cash offer of EUR 3.20 per Permanent TSB share, compared with EUR 2.97 under the BAWAG scheme. The difference is EUR 0.23 per share, or 7.74 percent, based on the BAWAG offer price.

Morningstar reported on October 12, 2026 that Axis valued its possible bid at EUR 1.74 billion, compared with EUR 1.62 billion for the BAWAG transaction. Neither Axis nor another interested party had made a firm offer.

What does the challenge change?

The ruling removes one procedural obstacle, but the deal still requires approval from the Irish High Court. The court sanction hearing is scheduled for October 27, 2026, while the higher indicative price keeps execution risk visible for BAWAG's planned Irish expansion.

Second-quarter profit sets the benchmark

BAWAG reported EUR 522.0 million of revenue and EUR 255.0 million of net income for the second quarter of 2026. Revenue increased 7.90 percent from the second quarter of 2025, while net income rose 37.00 percent; the figures place the pending PTSB transaction against a bank with material recent earnings growth. The standardized financial data reports diluted earnings per share of EUR 3.28 for the quarter.

Simply Wall St lists October 19, 2026 as BAWAG's next earnings date. The report will give investors a fresh operating reference before the October 27 court hearing.

Stock trades above Xetra close

At Lang & Schwarz, Bawag stock was trading at EUR 169.35 on October 13, 2026 at 9:05 a.m. CEST, up EUR 2.35 or 1.41 percent versus the Xetra close of October 12, 2026 at EUR 167.00. The 52-week range was EUR 103.80 to EUR 184.60 as of October 13, 2026.

The further course of trading is shown by the continuously updated real-time quote of Bawag stock.