Nasdaq Raises Offer Price in Battle to Take Over Oslo Bors
The U.S. exchange operator increased its bid by 3.9 percent to 158 kroner a share for Oslo Bors VPS, according to a statement on Monday. Nasdaq also lowered its acceptance condition to at least two-thirds from 90 percent and extended its acceptance period to March 29.
The board of Oslo Bors also on Monday reiterated its support for the Nasdaq bid.
But Euronext, which already has direct or indirect control of just over 50 percent of Oslo Bors, gave no indication it’s giving up. The Franco-Dutch exchange operator on Monday said it remains confident that it represents the strategically most attractive industrial partner for Oslo Bors and for the Norwegian financial and business community in general.
“Euronext’s minimum ownership condition has been fulfilled and the transaction will be completed once regulatory clearance has been obtained,” a spokeswoman for the bourse said.
Euronext has given shareholders until March 11 to decide.
The rival bids will be assessed by Norway’s markets regulator and, ultimately, the country’s finance ministry in a process that could take months.