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