Nasdaq has withdrawn its takeover offer for Oslo Børs, clearing the way for Euronext to buy the Norwegian exchange operator.
Euronext, the leading pan-European exchange, announced today that its shareholders unanimously voted in favour of Euronext’s acquisition of up to 100% of Oslo Børs VPS’s capital during the General Meeting of Shareholders held on 16 May 2019 in Amsterdam.
Nasdaq has increased its stake on Oslo Bourse with the purchase of 844,071 shares in the Norwegian exchange operator, upping the ante in its fight with Euronext over control of the business.
Euronext's battle with Nasdaq for the takeover of Oslo Bourse has been boosted by a positive recommendation from the Norwegian Financial Supervisory Authority.
Euronext, the leading pan-European exchange, announces today that it is amending its Offer to acquire Oslo Børs VPS’s outstanding shares by extending the Acceptance Period thereof.
Nasdaq has raised its offer price for Oslo Bourse to $789 million, matching a rival bid from Euronext.
Euronext has upped its offer for Oslo Bourse to $785.7 million in an effort to beat off Nasdaq's competitive $770 takeover bid for the Nordic exchange.
Euronext has reaffirmed its commitment to a takeover of Oslo Bourse despite a decision by the Nordic exchange's board last week in favour of a higher bid from Nasdaq.
Oslo Bourse has recommended a $770 million takeover from Nasdaq, usurping a previous bid by Euronext.
Euronext is pressing ahead with a EUR625 million takeover bid for Oslo Bors as the Scandinavian trading destination seeks to ignite a bidding war with alternative suitors waiting in the wings.
© Finextra Research 2019