Euronext tops Nasdaq bid for Oslo stock exchange 

February 11, 2019
Unless either Euronext or Nasdaq withdraws its bid, the future ownership of the Oslo exchange, pictured, will likely be decided by Norwegian authorities

European exchange operator Euronext on Monday raised its offer for the Oslo stock exchange to $783 million (691 million euros), besting an offer from US rival Nasdaq.

Euronext said it was raising its offer to 158 kroner per share, which beats an offer made by Nasdaq on January 30 of 152 kroner per share, as well as its original December bid of 145 kroner per share.

The Nasdaq offer was endorsed by the management of Oslo exchange, saying it was better for its capital market and companies.

The US-based Nasdaq controls all of the other in the Nordic and Baltic region, while Euronext operates the Paris, Amsterdam, Brussels, Dublin and Lisbon markets.

In addition to putting more money on the table, Euronext said its offer would help develop the Oslo stock exchange while maintaining its local identity.

"Euronext is committed to maintaining, investing in and developing Oslo Bors VPS as a key infrastructure in Norway and internationally for the benefit of all stakeholders," adding that "continuity, local governance and decentralised decision-making are the key principles of Euronext's model."

Euronext's original offer had already attracted the binding acceptance of more than half of shareholders.

Unless either Euronext or Nasdaq withdraws its bid, the future ownership of the Oslo exchange will likely be decided by Norwegian authorities, whose approval is required for any acquisition of more than 10 percent.

Explore further: Philips Lighting joins Amsterdam's top-tier AEX index

Related Stories

Philips Lighting joins Amsterdam's top-tier AEX index

March 7, 2018

Philips Lighting which split from its electronics giant parent company to list as a standalone on the Amsterdam stock exchange in 2016, announced Wednesday it was joining the market's top-tier AEX index.

Facebook to be part of Nasdaq 100 index

December 5, 2012

Facebook will become part of the Nasdaq 100 index of the largest non-financial companies listed on the electronic exchange, the market operator said Wednesday.

Norwegian to raise 300 mn euros to bolster finances

January 29, 2019

Struggling low-cost carrier Norwegian Air Shuttle said Tuesday it planned to sell new shares to raise three billion kroner (309 million euros) to meet financial obligations as it restructures and cuts costs.

Recommended for you

Light-based production of drug-discovery molecules

February 18, 2019

Photoelectrochemical (PEC) cells are widely studied for the conversion of solar energy into chemical fuels. They use photocathodes and photoanodes to "split" water into hydrogen and oxygen respectively. PEC cells can work ...

Sound waves let quantum systems 'talk' to one another

February 18, 2019

Researchers at the University of Chicago and Argonne National Laboratory have invented an innovative way for different types of quantum technology to "talk" to each other using sound. The study, published Feb. 11 in Nature ...

Engineered metasurfaces reflect waves in unusual directions

February 18, 2019

In our daily lives, we can find many examples of manipulation of reflected waves, such as mirrors, or reflective surfaces for sound that improve auditorium acoustics. When a wave impinges on a reflective surface with a certain ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.