Nasdaq also receives approval from Norway’s Ministry of Finance to acquire Oslo Bors VPS
“The decision not to require a two thirds majority of the shares to be obtained by any person seeking to acquire control of Oslo Børs VPS is disappointing,” said Lauri Rosendahl, President, Nasdaq Nordic.
Shortly after Euronext announced it had secured clearance from Norway’s Ministry of Finance to acquire up to 100% of the capital of Olso Bors VPS, Nasdaq Inc (NASDAQ:NDAQ) has issued a similar announcement.
Nasdaq AB, an indirect subsidiary of Nasdaq, Inc., says it today received the ruling by the Ministry of Finance in Norway related to the future ownership requirements of Oslo Børs VPS Holding ASA in connection with Nasdaq AB’s offer to acquire all of the issued shares of Oslo Børs VPS.
“While the Ministry of Finance has confirmed that Nasdaq is a suitable owner of Oslo Børs VPS in accordance with the applicable Norwegian statutory requirements, the decision not to require a two thirds majority of the shares to be obtained by any person seeking to acquire control of Oslo Børs VPS is disappointing,” said Lauri Rosendahl, President, Nasdaq Nordic.
“Based on an expert review of publicly available information, there are no exchanges in Europe where a majority shareholder owns more than fifty, but less than two-thirds of the shares. We were hopeful the Norwegian authorities would make a decision consistent with this widespread European practice. Nasdaq will now analyse the decision in detail and assess our options.”
Nasdaq says that, over the last weeks and months, it has received overwhelming support for its offer to acquire Oslo Bors VPS from a large number of key stakeholders in the Norwegian financial market. Through its conversations with representatives from investment firms, issuers, industry organizations and the public sector, Nasdaq understands that a large majority prefers Nasdaq as the future owner of Oslo Bors VPS.