Euronext extends acceptance period for Oslo Bors offer

Sourced from: https://financefeeds.com/euronext-extends-acceptance-period-oslo-bors-offer/

On March 4, 2019, Nasdaq AB, a direct subsidiary of Nasdaq Inc (NASDAQ:NDAQ), raised its offer for Oslo Bors into NOK 158 per share. Nasdaq’s offer consequently became equal (in financial terms) to Euronext’s revised offer.

The price represents a 44% premium on Oslo Børs VPS’s Pen final cost at 17 December 2018 and 46% on Oslo Børs VPS’s 3-month volume-weighted average share price at 17 December 2018. Each accepting shareholder will also receive an Interest Payment around the Revised Offer Cost equal to 6 percent per annum.

The shift with regards to the offer concerns the acceptance interval, which is currently extended. Euronext will last to receive and accept acceptances of the deal around April 1, 2019 at 18:00 Central European Time. All other stipulations of this Euronext provide as revised on February 11, 2019 remain unchanged.

Euronext’s revised bid from February 11, 2019, proposes an Offer Cost NOK 158 per share. This is being raised from NOK 145 from the original offer.
Nasdaq also reduced the minimum acceptance condition under the Offer from more than 90% of the shares of Oslo Børs VPS to at least two-thirds of these shares (or such greater percentage as may be required to comply with any applicable regulatory requirement).

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