Nasdaq ups its initial bidding to $795m to acquire OSE

BFSI News

Nasdaq-ups-its-initial-bidding-to-795m-to-acquire-OSE Nasdaq ups its initial bidding to $795m to acquire OSENasdaq stock exchange has upped its initial offer to acquire the Oslo Stock Exchange (OSE), in a counter bid to Euronext N.V.’s previous offer. The American stock exchange is now offering NOK 158 ($18.2) per share over its last offering of NOK 152 ($17.5) per share, and an annual interest of 6% as part of the deal.

With this new offer price, the entire issued share capital of OSE will be priced at NOK 6,795 billion ($795 million). Furthermore, the American stock exchange has reduced the minimum acceptance condition to at least two-thirds of such shares.

The latest upped offering is part of Euronext and Nasdaq’s tug of war to outbid each other to own the majority shares of OSE.

According to Adena Friedman, president, and CEO of Nasdaq, the exchange is confident that its offer is the superior solution and in the best interest of OSE’s shareholders, members, issuers, investors and employees. Adding further Friedman said that Nasdaq has a strong presence and a successful track record of operating exchanges in the Nordic region. The American exchange stays proven to combine the benefits of leading market operators in the world along with facilitating the distinctions and individual strengths of national financial ecosystems.

The American exchange is determined to unite the Nordic capital market by bringing the Norwegian, Danish, Finish, Icelandic, and Swedish financial ecosystem together, running on the same technology.