Nasdaq has raised its offer for Swedish trading tech firm Cinnober to $220 million, after failing to win over shareholders to its earlier valuation of $190 million.
Nasdaq's initial offer for Cinnober failed to garner support among the Swedish firm's shareholders, attracting a vote in favour from only 37% of those canvassed.
The exchange operator says that 82% of shareholders have already accepted the revised bid, including powerful hold-outs such as Swedbank which owns 9.7% of Cinnober's shares.
In upping the revised bid, Nasdaq also moved to mollify Cinnober shareholders by removing a clause which made the offer conditional on achieving all regulatory, governmental and competition authority clearances.
Nasdaq needs to garner 90% of shareholder support for the offer to pass muster by 9 January 2019.
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