Northern lights: Dublin stock market operator sees off US rival Nasdaq in bid to take control of Norway's main market
The owner of the Irish Stock Exchange has decisively knocked US rival Nasdaq out of a race to take control of Oslo Bors, Norway's main stock market.
Euronext said yesterday that it had secured a 61.4pc stake in the Norwegian stock exchange operator, in what looks to be the end of a five-month long takeover battle.
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Paris-based Euronext bought the Irish Stock Exchange, now renamed Euronext Dublin, last year as it hoovers up the last of Europe's independent stock exchange operators.
At the same time, rival consolidator Nasdaq has gobbled up exchanges across the Nordic region - in Sweden, Denmark, Finland and Iceland, as well as those of Estonia, Latvia and Lithuania.
Oslo Bors was one of the last European independent stock market operators and the last in the Nordic region.
Euronext effectively won its bid for control of the Norwegian bourse last week after US operator Nasdaq threw in the towel.
After five months of battle and several counterbids, Norwegian regulators last month sided with Euronext, which runs exchanges in Paris, Brussels, Amsterdam and Lisbon as well as Dublin.
Yesterday, Euronext said it would keep its offer for Oslo Bors open until June 28 under the same conditions for shareholders who have yet to take it up.
The Paris-based company offered 158 Norwegian crowns per share for Oslo Bors, valuing it at around 6.8 billion Norwegian crowns (€693m).
Euronext CEO Stephane Boujnah (pictured) said that he expected to close the acquisition by June 14.
Euronext may seek to delist Oslo Bors if it secures more than 90pc of its shares.
Additional reporting Reuters