Local Omani lender Ahli Bank has turned down the non-binding merger offer made by Bank Dhofar on Tuesday.
The decision, announced via a regulatory filing yesterday, came after a “careful evaluation” by Ahli Bank’s board of directors of Bank Dhofar’s merger offer.
“The decision has been communicated to Bank Dhofar and Ahli Bank expressed its appreciation to stakeholders for their continuous support and confidence in the organization,” it further noted.
A non-binding offer allows the parties involved to explore the possibility of a merger without being legally bound to proceed.
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