Oslo Exchange Seeks Counterbids To Euronext Takeover Offer
Law360, London (January 4, 2019, 12:36 PM GMT) -- Norwegian stock exchange Oslo Bors VPS Holding said Friday it is inviting potential buyers to rival a €625 million ($713 million) cash offer for the company, which was tendered by Euronext NV on Christmas Eve.
Euronext announced its takeover plans in December with a package that will be subject to regulatory approvals. The pan-European exchange claimed it had secured the backing of most Oslo Bors shareholders.
However the Norwegian company’s board is now trying to drum up alternative offers to mount a direct challenge to Euronext. The exchange believes the timing of the bid puts potential alternative buyers at a disadvantage.
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