Source: Euronext
Euronext, the leading pan-European exchange, today announces it has received the clearance from the Danish Financial Supervisory Authority to acquire up to 100% of VP Securities A/S1 (“VP Securities”) on 15 July 2020.
Euronext welcomes this regulatory approval by the Danish FSA that was the only condition to complete the transaction.
Euronext has already secured strong support from existing shareholders of VP Securities with shareholders representing 90.68% of the total shares2 having already accepted Euronext’s offer as of today.
Euronext’s tag along offer to acquire the remaining shares in VP Securities will remain open until 31 August 2020. According to the terms of the Euronext’s tag along offer to the minority shareholders of VP Securities, shareholders having accepted the Euronext’s offer will receive settlement on or around 3 August 2020. Any other shareholders and shareholders with specific rights, accepting Euronext offer, before 31 August 2020, which is the latest date to accept Euronext’s offer, will receive payment on or around 10 September 2020.
Following such settlements, Euronext intends to initiate a compulsory acquisition procedure to acquire the remaining shares not already tendered in accordance with the rules of the Danish Companies Act.