Oslo Børs VPS has urged its shareholders to wait for the board’s recommendation.
Euronext has published the offer document for its all-cash tender offer to acquire the outstanding and all issued shares of Oslo Børs VPS Holding ASA ("Oslo Børs VPS"), an exchange and central securities depository operator.
Euronext, the pan-European exchange, is offering NOK 6.24 billion ($730.74 million) to purchase the shares, which translates to NOK 145 ($16.98) per share, a 32 percent premium on Oslo Børs VPS's closing price on December 17, 2018. When measuring against the company’s three-month volume-weighted average share price, the offer is a premium of 34 percent, the statement said.
Furthermore, for each shareholder that accepts Euronext’s offer, they will also receive an interest payment on the offer price equal to six percent per annum from the date they accept the offer until the conditions of the offer are fulfilled.
Oslo Børs VPS urges shareholders to wait on Euronext offer
The acceptance period for the offer begins today and will last until February 11, 2019. However, according to a report from Reuters today, the Norwegian company has advised shareholders that it should await the recommendation of its board, which is expected by the end of February at the latest, before making a decision.
Per Eikrem, a spokesman for Oslo Børs VPS said: “We don’t yet know which offer may ultimately be the best. We’re trying to find that out now.”
According to the statement from Euronext today, if the offer is accepted, it will be “fully committed” to further developing Oslo Børs VPS, both in regards to its Stock Exchange and central securities depository.
“If the offer is accepted, Oslo Børs VPS would benefit from the largest European Liquidity pool, Euronext's cutting edge technology and innovation capabilities, and access to new asset classes, tools and markets. Oslo Børs VPS would maintain its identity and integrity within Euronext's decentralised model, while the CSD VPS would keep its operational independence to serve the Norwegian investor community, in an integrated framework of governance and supervision."
“The combination would be a major milestone towards Euronext's vision of building a consistent pan-European marketplace offering best-in-class capital markets services," added Stéphane Boujnah, the Chief Executive Officer and Chairman of the Managing Board of Euronext.
Euronext has published the offer document for its all-cash tender offer to acquire the outstanding and all issued shares of Oslo Børs VPS Holding ASA ("Oslo Børs VPS"), an exchange and central securities depository operator.
Euronext, the pan-European exchange, is offering NOK 6.24 billion ($730.74 million) to purchase the shares, which translates to NOK 145 ($16.98) per share, a 32 percent premium on Oslo Børs VPS's closing price on December 17, 2018. When measuring against the company’s three-month volume-weighted average share price, the offer is a premium of 34 percent, the statement said.
Furthermore, for each shareholder that accepts Euronext’s offer, they will also receive an interest payment on the offer price equal to six percent per annum from the date they accept the offer until the conditions of the offer are fulfilled.
Oslo Børs VPS urges shareholders to wait on Euronext offer
The acceptance period for the offer begins today and will last until February 11, 2019. However, according to a report from Reuters today, the Norwegian company has advised shareholders that it should await the recommendation of its board, which is expected by the end of February at the latest, before making a decision.
Per Eikrem, a spokesman for Oslo Børs VPS said: “We don’t yet know which offer may ultimately be the best. We’re trying to find that out now.”
According to the statement from Euronext today, if the offer is accepted, it will be “fully committed” to further developing Oslo Børs VPS, both in regards to its Stock Exchange and central securities depository.
“If the offer is accepted, Oslo Børs VPS would benefit from the largest European Liquidity pool, Euronext's cutting edge technology and innovation capabilities, and access to new asset classes, tools and markets. Oslo Børs VPS would maintain its identity and integrity within Euronext's decentralised model, while the CSD VPS would keep its operational independence to serve the Norwegian investor community, in an integrated framework of governance and supervision."
“The combination would be a major milestone towards Euronext's vision of building a consistent pan-European marketplace offering best-in-class capital markets services," added Stéphane Boujnah, the Chief Executive Officer and Chairman of the Managing Board of Euronext.
Tradeweb Markets' April Trading Volumes Surge Nearly 70%
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa