Euronext gives Oslo Bors shareholders more time to back its offer in battle with Nasdaq
Euronext has given Oslo Bors shareholders more time to accept its offer as its battle with Nasdaq over the Norwegian stock exchange operator rumbles on.
The Pan-European exchange operator has extended its acceptance period to 31 May, the same date as Nasdaq, as the pair fight for support from Oslo Bors shareholders.
Read more: Nasdaq increases Oslo Bors stake as battle with Euronext comes to a head
Both offers of 158 Norwegian kroner per share, value the business at roughly 6.8bn Norwegian kroner (£600m).
The Norwegian Ministry of Finance is expected hand final approval to one of the two prospective buyers later this month.
Euronext, which operates exchanges in Paris, Brussels, Amsterdam, Lisbon and Dublin, has the backing of shareholders representing 53.2 per cent of Oslo Bors.
The US giant has attracted support from 37 per cent of the company and has also been publicly backed by the Oslo Bors board.
The two have been locked in an intense battle over Oslo Bors since the end of last year.
Read more: Euronext and Nasdaq win watchdog approval for Oslo Bors
Last month both companies revealed that they had been approved as “fit and proper” owners by the Norwegian Financial Supervisory Authority (FSA).
Euronext and Nasdaq has both said they remain confident of securing a deal for the Norwegian stock exchange operator.
Nasdaq extended its own acceptance period last month and said it could further extend the period if it did not attract the minimum 66.6 per cent by 31 May.