Nasdaq extends acceptance period for Oslo Bors offer to end-May 2019

Maria Nikolova

The acceptance period was previously set to expire April 30, 2019.

Nasdaq AB, an indirect subsidiary of Nasdaq Inc (NASDAQ:NDAQ), announces today that it is extending the acceptance period of its offer to acquire all of the issued shares of Oslo Børs VPS Holding ASA. The period, previously set to expire April 30, 2019 at 17.30 CET, is now extended to May 31, 2019 at 17.30 CET.

Earlier in April, Nasdaq announced that it, through an affiliated entity, purchased 844,071 shares in Oslo Børs VPS.

The purchases were made in line with the terms of the offer as outlined on February 4, 2019, as amended by announcements on March 4 and March 25, 2019. As a result of the purchases, which were made at NOK 158 per share, equal to the Offer Price, more than 37% of Oslo Børs VPS shares are owned by Nasdaq or are subject to pre-commitments to accept the Offer.

Nasdaq has stressed its commitment to combining with Oslo Børs VPS and voiced its confidence that the Offer represents the best solution for supporting the Norwegian capital market and uniting a strong Nordic financial ecosystem for long term, sustainable growth. Nasdaq has also noted that, on April 8, 2019, the recommendation to the Ministry of Finance by the Financial Supervisory Authority of Norway to approve Nasdaq as a qualified owner of Oslo Børs VPS was announced.

Nasdaq is in a bidding race with Euronext over the acquisition of Oslo Bors. On April 8, 2019, Euronext said it had secured positive recommendation from Norway’s Financial Supervisory Authority on the Oslo Bors deal. Euronext now awaits final approval from the Norwegian Ministry of Finance which is the last major condition to complete the transaction.

Nasdaq and Euronext each offer NOK 158 per share of Oslo Bors.

Read this next

Technology

Spotware Systems unveils version 4.4 of Desktop and Web terminals

Spotware Systems, a technology provider for the electronic trading industry, has launched updated versions of its cTrader Desktop and Web terminals, which add new functionality to join a roster of advanced trading capabilities.

Institutional FX

Integral reports best monthly FX volume in 6 months

Currency trading on Integral’s platforms rose in September to its highest levels since March 2022 as increased volatility across financial markets led to greater activity on institutional FX venues.

Retail FX

OctaFX pre-launches new trading platform as MT4 and MT5 remain suspended by Apple

Like many other brokers within the FX and CFD industry, OctaFX had all its eggs in one basket, MetaQuotes, only offering access to MetaTrader 4 and MetaTrader 5. OctaTrader will provide the much needed change.

Opinion

Is the Bank of England facing another storm? Op-Ed by Stuart Cole, macro economist at Equiti Capital

An analysis and opinion editorial by Stuart Cole, macro economist at Equiti Capital, 3 October 2022 on what triggered the UK gilt market sell-off and is the Bank of England facing another storm?

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

<