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.

Read this next

Institutional FX

Broadridge helps SLIB to enhance cross-border proxy voting in France

“Together with our partners at SLIB, we have delivered an advanced voting and communications solution that makes it easier than ever for all investors, both those in France and in other markets, to seamlessly cast their votes in the companies they own.”

Digital Assets

FTX resumes salary payments to employees and contractors, except in Bahamas and Australia

“FTX also is making cash payments to selected non-U.S. vendors and service providers where necessary to preserve business operations, subject to the limits approved by the Bankruptcy Court. We recognize the hardship imposed by the temporary interruption in these payments and thank all of our valuable employees and partners for their support.”

Market News

Rishi Sunak’s reign in real data

After several weeks of Rishi Sunak’s appointment as the new Prime Minister, it is obvious that he has claimed quite the public support.

Digital Assets

CrossTower acquires BEQUANT to help crypto industry reset and consolidate

“We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance.”

Retail FX

Plum launches crypto offering for EU residents

Plum has added crypto investing to its range of investment options in France, Belgium, Spain, and Ireland. Residents there will be able to buy and sell cryptocurrencies in their app with just a few taps, via services provided by Bitpanda.

Retail FX

FX/CFD and Crypto broker Quantfury launches fractional trading of stocks, ETFs, commodities

“Quantfury is advancing its unmatched trading and investing conditions further by making it even more affordable to Quantfurians out there. Fractional trading mode opens up more trading opportunities to the Quantfury global audience of more than 400,000 Quantfurians.”

Industry News

SEC awards $20 million to whistleblower despite degree of culpability and reporting delay

The Securities and Exchange Commission has awarded a whistleblower with $20 million for providing new and critical information that led to the success of an enforcement action.

Institutional FX

Tradesmarter’s white label WOW TRADER integrates with TradingView

Tradesmarter’s white label trading platform solution WOW TRADER has integrated with TradingView, the high performance and mobile friendly charting tool.

Industry News

ASIC loses fee overcharging case against Commonwealth Bank of Australia

“ASIC pursued this case because we believed CBA did not have robust compliance systems to ensure customers were being correctly charged. ASIC will carefully consider the judgment and continue to work to ensure large financial institutions charge fees correctly and put their customers first.”

<