Norway Clears Euronext To Bid For Oslo Bors Takeover

Law360, London (May 13, 2019, 5:41 PM BST) -- The Norwegian government cleared both Euronext and Nasdaq to acquire the country’s main stock exchange on Monday, effectively handing Euronext a victory in a bitter five-month takeover battle.

The decision comes months after both exchange group operators tabled offers of 158 Norwegian kroner per share, valuing Oslo Bors at around $795 million. The Ministry of Finance ruled that both could purchase shares in Oslo Bors VPS, but as Euronext NV has secured support from 53% of shareholders, Monday’s decision puts it in the strongest position to succeed. Nasdaq AB has only been able to amass the support of 35% plus the...

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