Euronext publishes offer document for all-cash tender offer for Oslo Bors VPS

Maria Nikolova

The acceptance period of the tender offer commences today and will expire at 17:30 CET on February 11, 2019.

Further to the Euronext’s announcement from December about its plans to submit an all-cash offer for the outstanding shares in Oslo Børs VPS, Euronext says today it has published the offer document for its previously announced all-cash tender offer to acquire all issued and outstanding shares of Oslo Bors VPS Holding ASA for NOK 6.24 billion (€625m).

The offer price is NOK 145 per share, representing a 32 % premium on Oslo Børs VPS’s closing price on December 17, 2018 and 34 % on Oslo Børs VPS’s 3-month volume-weighted average share price. Each accepting shareholder will also receive an interest payment on the offer price equal to 6 % per annum, from the date of acceptance until fulfilment of the conditions of the offer.

The acceptance period of the tender offer starts today and is set to expire at 17:30 CET on February 11, 2019. Let’s note that this period can be extended if appropriate. Euronext has already secured support for the offer from Oslo Børs VPS shareholders representing 50.5% of the total number of outstanding shares through irrevocable binding pre-commitments to tender shares in the context of the offer, and share purchases.

The offer is subject to fulfilment or waiver of certain conditions, including but not limited to minimum acceptance level of at least 50.01 % of Oslo Børs VPS outstanding shares (including shares already held by Euronext), regulatory approvals, short confirmatory due diligence, a favourable vote from a majority of Euronext shareholders and completion of the transaction before end-August 2019.

If its offer is accepted, Euronext, already managing the national stock exchanges of five European countries and the Portuguese CSD, will be fully committed to the further development of Oslo Børs VPS, both its stock exchange and the central securities depository (CSD, known as ‘VPS’), as well as the broader Norwegian financial ecosystem.

Via the deal, Euronext aims to increase the prominence of Oslo Børs VPS’s trading business, by leveraging Euronext capabilities to position it as the key capital markets hub in the Nordic region, capitalising on its leading position in the energy, shipping and seafood sector, and as the launchpad for expansion in the Nordic region, as well as to offer Oslo Børs VPS’s issuers and investors the benefits of access to the largest liquidity pool in Europe; build a truly pan-European market data offering by combining Oslo Børs VPS’s data and audience with that of Euronext.

Read this next

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

<