(RTTNews.com) - 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 BÃ¸rs VPS Holding ASA at NOK 152 per share. The offer price values the entire issued share capital of Oslo BÃ¸rs VPS at NOK 6.54 billion, or approximately $770 million.
The Board of Oslo BÃ¸rs 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 BÃ¸rs 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 (http://www.rttnews.com/2973945/nasdaq-to-make-cash-offer-for-oslo-bÃ¸rs-vps-oslo-bÃ¸rs-rejects-euronext-offer.aspx)
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