Norway’s Financial Supervisory Authority has concluded that US stock market operator Nasdaq and its European rival Euronext both meet the necessary criteria to acquire the Oslo Stock Exchange, reported the Financial Times.
On Monday, April 8, the Norwegian Financial Supervisory Authority approved both companies as potential buyers of the exchange. The Ministry of Finance is expected to make a final decision in May.
Euronext is aiming to close the takeover saga by the end of June, ending a dispute between shareholders and the board at Oslo, begun when a majority of shareholders sold their stakes to Euronext before Christmas without the Oslo board’s knowledge. Nasdaq has matched Euronext’s NKr158 per share (US$18.49) offer price, which values Oslo at nearly €700 million (US$788.4 million).
Full Content: Financial Times