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Euronext secures backing of majority Oslo Børs VPS shareholders

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Euronext secures backing of majority Oslo Børs VPS shareholders

Euronext NV said shareholders representing 50.6% of Oslo Børs VPS Holding ASA's capital have agreed to back its tender offer for the Norwegian stock market operator, up from 49.6% when the proposed offer was announced Dec. 24.

"Exceeding the 50% of total outstanding shares threshold shows the interest from Oslo Bors VPS shareholders for Euronext's offer to be launched, satisfying one of the conditions required for its completion and strengthening Euronext's confidence on its successful outcome," Euronext said Dec. 28.

The group said it will soon launch the 6.24 billion Norwegian kroner offer to buy Oslo Børs VPS at 145 Norwegian kroner per share, which represents a 32% premium on Oslo Børs VPS's Dec. 17 closing price and 34% on Oslo Børs VPS' three-month volume-weighted average share price.

The offer for the Norwegian Stock Exchange and national CSD operator is subject to customary conditions, due diligence and other approvals. It is not certain that a deal will be completed, Euronext said.

As of Dec. 27, US$1 was equivalent to 8.79 Norwegian kroner.