Euronext Updates on Oslo Bors Takeover, Reveals Unconditional Offer

Euronext completed its due diligence on the acquisition of Norway’s stock exchange and announced an unconditional offer to acquire up to 100% of Oslo Bors VPS’s capital. Franco-Dutch Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term operator offered 158 Norwegian crowns per share for Oslo Bors, valuing it at around 6.8 billion Norwegian crowns ($779 million), the same price offered by rival bidder Nasdaq Inc.

Both exchanges won approval from Norway’s Ministry of Finance to buy up to 100% of the exchange earlier in mid-May, effectively extending a six-month battle take over one of the last independent stock market operators in Europe.

“As previously announced, in order to provide remaining Oslo Børs VPS shareholders an opportunity to tender their shares to Euronext on the same terms, Euronext today launches an unconditional offer at NOK 158 plus a fixed interest payment of NOK 3.21 per share for all issued and outstanding shares in Oslo Børs VPS not already owned by Euronext,” it said.

Euronext, which runs exchanges in Paris, Brussels, Amsterdam, Lisbon, and Dublin said its unconditional offer would be open for acceptance until June 28, with shareholders accepting this proposal will receive settlement on June 14.

Euronext Reaps Benefits of ISE Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term

Earlier in February, the U.S. exchange operator raised its offer to 158 Norwegian crowns plus a fixed interest payment of NOK 3.21 per share from 152 crowns.

Euronext has already secured the backing of investors holding 53.2 percent of the shares in Oslo Bors and said its offer is open for the shareholders who supported the Nasdaq bid.

It also reduced the minimum acceptance condition under the offer from more than 90 percent of shareholders to two-thirds, the percentage that Nasdaq had argued as a minimum for the takeover to be completed in order to ensure that a buyer would have complete control.

Euronext reported last year strong revenue growth, which was mainly owed to acquisition benefits of the Irish Stock Exchange which drove listing revenue at Europe’s largest exchange.