World Markets

Nasdaq To Make Cash Offer For Oslo Børs VPS; Oslo Børs Rejects Euronext Offer

( - Nasdaq AB, an indirect subsidiary of Nasdaq Inc. (NDAQ), announced it will make a public offer to acquire all of the issued shares of Oslo Børs VPS Holding ASA at NOK 152 per share. The offer price values the entire issued share capital of Oslo Børs VPS at NOK 6.54 billion, or approximately $770 million.

The Board of Oslo Børs VPS unanimously recommended that the shareholders accept the offer and do not accept the offer made by Euronext NV. Nasdaq has obtained pre-acceptances of the offer from shareholders representing approximately 35.11% of the shares in Oslo Børs VPS, including DNB and KLP.

Nasdaq intends to fund the offer through a mix of debt and cash on hand. Nasdaq said the proposed transaction is expected to achieve its stated ROIC target of at least 10% within 3-5 years, and be accretive to non-GAAP EPS within 12 months of closing.

Read the original article on RTTNews (ørs-vps-oslo-børs-rejects-euronext-offer.aspx)

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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