Permanent TSB Group Says Axis Capital's Statement 'Highly Speculative,' Backs Bawag Group Takeover Offer

02:38 AM EDT, 10/05/2026 (MT Newswires) -- Permanent TSB Group (PTSB.L, PTSB.IR) said Axis Capital has not made any offer for the Irish financial services company and vowed that it remains committed to Bawag Group's (BG.VI) recommended bid. Responding to Axis Capital's public statements regarding its planned offer for Permanent TSB, the company said Monday that the former's announcement is "highly speculative and conditional." Permanent TSB remains fully focused on the board's recommended proposal from a unit of Bawag Group, which has already been approved by the shareholders in July. The company's board is working with Bawag Group to secure the remaining approvals, including the sanction by the High Court of the scheme at the court hearing scheduled for Oct. 27.