Nasdaq prolongs acceptance period for its offer for Oslo Bors

Maria Nikolova

The period is extended until April 30, 2019 at 17.30 CET.

Nasdaq AB, an indirect subsidiary of Nasdaq Inc (NASDAQ:NDAQ), has just announced that it is extending the acceptance period of its offer for Oslo Børs VPS Holding ASA to April 30, 2019 at 17.30 CET. The previously set deadline was March 29, 2019. 

Let’s recall that, earlier this month, Nasdaq increased its offer price from NOK 152 to NOK 158 in cash per share in Oslo Børs VPS, plus an interest payment of 6% per annum on the Increased Offer Price, pro-rated per day from January 29, 2019 until the conditions to the Offer have been fulfilled or waived. The Increased Offer Price values the entire issued share capital of Oslo Børs VPS at NOK 6,795 million, or approximately $795 million, and represents a premium of 44% to the undisturbed closing price of the Oslo Børs VPS shares on the NOTC on December 17, 2018.

Nasdaq also reduced the minimum acceptance condition under the Offer from more than 90% of the shares of Oslo Børs VPS to at least two-thirds of such shares (or such higher percentage as may be necessary to comply with any applicable regulatory requirement).

Nasdaq is in a bidding race with Euronext over the possible acquisition of Oslo Bors. In February, Euronext revised its bid for Oslo Bors, hiking it to an Offer Price NOK 158 per share. On March 11, 2019, Euronext said it would continue to receive and accept acceptances of the offer up to April 1, 2019 at 18:00 Central European Time. 

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