Euronext announced earlier this week that it has extended its Oslo Børs VPS Holding ASA’s outstanding shares acquisition offer. The pan-European exchange will continue to receive and accept acceptances of the offer up to 31 May 2019.
All other terms of its offer as revised remain unchanged.
Back in December 2018 Euronext raised its commitment to 50.6% of Oslo Børs VPS shares in the context of the tender offer to be launched. Euronext’s first all-cash tender offer for the acquisition of all issued and outstanding shares of Oslo Børs VPS for 6.24 billion Norwegian kroner ($740 million) was launched in the middle of January. Later on, the exchange showed its determination to acquire Oslo Børs VPS.
As previously announced on 8 April 2019, Euronext received the Norwegian Financial Supervisory Authority’s (Finanstilsynet) advice to the Norwegian Ministry of Finance, recommending that Euronext should be approved as a suitable owner of up to 100% of the capital of Oslo Børs VPS, as applied for, without ownership or other restrictions.
Euronext currently awaits final approval from the Norwegian Ministry of Finance that is expected mid-May 2019.