Norwegian exchange operator Oslo Bors has recommended that its shareholders acce...
- Norwegian exchange operator Oslo Bors has recommended that its shareholders accept a sweetened buyout offer made by U.S.-based Nasdaq Inc on Monday, and reject a bid from Euronext.
Earlier on Monday, Nasdaq raised its offer price for Oslo Bors to about 6.8 billion Norwegian crowns , matching a rival offer by Paris-based Euronext.The higher offer came after Euronext raised its own bid to 158 crowns per share on Feb. 11, just before its opening gambit of 145 crowns was due to expire.
It also reduced the minimum acceptance condition under the offer from more than 90 percent of shareholders of Oslo Bors to at least two-thirds, which is required to make any changes to the by-laws of the target company. Oslo Bors Chief Executive Bente Landsnes told Reuters last month that she backs Nasdaq’s proposal, which also has the support from the largest shareholder, Norwegian bank DNB.
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