Euronext confirms talks with BME over potential offer

Maria Nikolova

Euronext confirms that it is now in discussions with the Board of Directors of BME, which may or may not lead to an offer being made.

Euronext NV (EPA:ENX) today posted a brief comment regarding recent press speculation concerning a potential offer from Euronext for Bolsas y Mercados Españoles (BME).

Euronext confirms that it is now in talks with the Board of Directors of BME, which may or may not lead to an offer being made. A further announcement will be made as and when appropriate.

Also today, BME announced that SIX Group, A.G. has launched a tender offer for the acquisition of 100% of the shares in BME, offering a price of EUR 34 per share, subject to a minimum acceptance condition of 50 per cent plus one share in BME and receiving all legally required authorizations.

The offer has been preceded by discussions between representatives of SIX and BME including a presentation by SIX to the Board of Directors of BME of its industrial project for the future management of the markets, systems and infrastructures currently managed by BME, as well as certain commitments that it is ready to assume in relation to BME and the Spanish authorities with the purpose of preserving the integrity and stability of such markets, systems and infrastructures. These conversations concluded on the date hereof with the receipt of a letter setting forth the terms on which basis SIX proposed to launch its offer.

The transaction proposed by SIX has two components: the economic terms of the Offer and, on the other hand, the industrial plan of the combined business that would result from the Transaction, should it succeed, and in particular everything related to the future management of the markets, systems and infrastructures attributed to BME. BME’s Board of Directors has qualified the SIX’s Offer as amicable, provided that the Board reserves its final opinion until the time it becomes aware of all its terms and conditions, and in particular until the time in which it can value to its full extent the consequences that the industrial plan proposed by SIX would have for the integrity and stability of the Spanish markets and infrastructures managed by BME.

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