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COPENHAGEN, Denmark (AP) — Netherlands-based Euronext has increased its offer to acquire the Oslo stock exchange, stepping up a bidding war with rival Nasdaq, which owns all the other bourses in the Nordic-Baltic region.
Euronext offered Monday 158 kroner ($18.25) per share, up from a previous bid of 145 kroner. It reportedly values the company at 6.79 billion kroner ($784 million) and is 6 kroner above the offer from Nasdaq, which is due to expire on March 4.
Oslo Boers has indicated it prefers a deal with Nasdaq. Nasdaq already operates the main stock exchanges in Sweden, Denmark, Finland, Iceland and the three Baltic countries.
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Euronext, which operates six exchanges in Europe, said the acceptance period was extended to March 11. It launched its first bid on Dec. 28.
The Associated Press contributed to this report.
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