Attorneys at Oslo Børs have raised the idea of having the acceptance threshold in the takeover battle around the stock exchange between Euronext and Nasdaq increased by regulators, in order to thwart an acquisition by Euronext. This was reported by the Bloomberg news agency on the basis of access to documents concerning the case.
This proposal would then have to be approved by the Norwegian authorities, which according to Bloomberg is far from certain. With its takeover bid, Euronext is already assured of support from more than 50 percent of the shareholders of Oslo Børs. Nasdaq in turn still has to make do with commitments of 35 percent of investors, but also has the support of the board of Oslo Børs.
A spokesman for Oslo Børs told Bloomberg that the idea of the lawyers is not recommended and that there is no attempt to prevent Euronext’s bid. These would be legal assessments submitted by the lawyers.