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Euronext in bidding war with Nasdaq for Oslo stock exchange

 By The Associated Press  February 11, 2019 at 4:28am
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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.

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 Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

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