Euronext raises the stakes in battle with Nasdaq for Norway stock exchange
The bid battle for Norway’s stock market took a twist on Monday when Euronext upped its offer.
It is duking it out with Nasdaq for Oslo Børs, the only independent stock exchange in the Nordic countries.
Euronext increased its offer to 158 Norwegian kroner (1410p) per Oslo Børs share, compared with 145 kroner previously.
That values Oslo Børs at £606 million. Nasdaq’s bid is presently 152 kroner a share.
Euronext’s chief executive Stéphane Boujnah said: “We strongly believe that a combination with Euronext provides Oslo Børs VPS with clear and superior benefits compared to any other offer.
“Oslo Børs will maintain its identity and integrity within Euronext’s decentralised model with a strong impact on the future strategy of the enlarged group.
“Oslo’s role as a key financial centre will be reinforced. Oslo Børs employees will be empowered to develop the satisfaction of their clients, with the ability to shape the future for Euronext and for the Norwegian economy,” added Boujnah.
