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China industrial profits jump 14.4% in September on AI demand South Korea Q3 GDP grows 1.0%, triple the central bank’s forecast Wall Street lines up $63B to fund Broadcom AI chips for Anthropic Brazil’s Ibovespa crashes ~14% after Lula’s surprise runoff win Central banks' super week: Fed, ECB, BoJ seen holding; Canada may hike Moody’s spares France a downgrade as 10-year yield tops 5% Oil slips from six-month highs as Qatar mediates in Tehran China’s Fifth Plenum opens as AI exports mask weak home demand Lula wins, Brazil markets brace for shock sell-off; Tokyo Brazil ETF plunges ~15% Brazil votes today: Lula faces Flávio Bolsonaro in runoff

Intelligence

Axis Capital crashes Irish bank deal with €3.20/share PTSB offer

A possible cash bid tops the board-backed price by 7.7%, setting up a takeover contest

Investment Tracker | 5 October 2026

Axis Capital crashes Irish bank deal with €3.20/share PTSB offer

A rival bidder has emerged for Permanent TSB, putting the Irish lender's recommended sale in play.

Axis Capital confirmed it is considering an all-cash offer for Permanent TSB Group Holdings at €3.20 per share, above the €2.97 board-recommended deal, signalling a possible bidding war.

That is about a 7.7% premium to the price per share payable under the scheme of arrangement already recommended by PTSB's board, possibly setting up a takeover contest as the rival bidder has emerged for Permanent TSB, putting the Irish lender's recommended sale in play.

Axis is also open to letting current shareholders roll part of their holdings into the new structure and stay invested. The statement is a possible offer under Irish Takeover Rules, not a firm bid. PTSB's board must now decide whether to engage, which could spark a bidding contest.