Nasdaq AB, an indirect subsidiary of Nasdaq Inc., withdrew its offer to acquire all issued shares of Norway's Oslo Børs VPS Holding ASA, effectively clearing the way for a rival bid by Euronext NV.

U.S.-based Nasdaq said the decision was due to its offer having failed to satisfy minimum acceptance condition for completion. Shareholders who had previously accepted Nasdaq's offer will be released from their obligations, it noted.

The decision comes after a monthslong bidding war with Netherlands-based Euronext. Both had offered to acquire Oslo Børs at 158 Norwegian kroner per share.

As of May 24, US$1 was equivalent to 8.70 Norwegian kroner.