Mubasher: Ahli United Bank – Bahrain (AUB Bahrain) accepted the conclusions contained in the due-diligence review and valuation reports, and approved the share exchange ratio with Kuwait Finance House (KFH) by approximately 2.326 shares of AUB Bahrain for each share of KFH.

The approval of the said exchange ratio does not imply that an official acquisition offer has been made by KFH, Boursa Kuwait disclosed on Sunday.

Bloomberg has reported that KFH offered to buy AUB Bahrain in an all-share deal that is valued at about $8.8 billion.

On 12 September, KFH announced its approval for the advisers’ reports and due-diligence review results, in addition to the final exchange ratio between the shares of KFH and AUB Bahrain.