Swiss stock exchange SIX said on Nov. 18 it had offered to buy Spain’s BME for 34 euros a share in cash, valuing the exchange operator’s equity at 2.8 billion euros. The offer represents a 34% premium over BME’s closing share price on Nov. 15.
The board of BME, one of Europe’s last stand-alone exchanges, said the offer “may reasonably reflect the current value” of the businesses managed by BME. The board said it had undertaken to sign a breakup fee equal to 0.5% of the cash transaction. Earlier on Nov. 18, pan-European exchange Euronext said it was in talks with BME for a potential offer.
Shares in BME were up 38% at 35 euros a share at 0900 GMT. Euronext shares were up 2.1% at 73.35 euros.
Source: Digital Coin News (digitalcoinnews.net)
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