Borse Dubai deal may be done by end-February, says OMX - Emirates24|7

Borse Dubai deal may be done by end-February, says OMX

 

Borse Dubai's takeover of Nordic exchanges group OMX is on course to be completed this month and no other big deals are foreseen for now, OMX Chief Executive Magnus Bocker said on Wednesday.


Bocker said he expected to announce on Friday that acceptances from OMX shareholders had passed the 67 per cent threshold needed for the deal to be done.

"We feel very comfortable we will reach that level and we feel very comfortable we will be able to announce that, but for the exact acceptance number we have to wait until Friday," Bocker told reporters in Brussels.

Bocker said the deal might then be closed at the end of February with the new company starting in March.

OMX's board has backed a $4.9 billion offer by Borse Dubai. If the offer succeeds, Borse Dubai will then sell on OMX to US exchange Nasdaq in return for a stake in the combined business.

On Wednesday, Qatar Holdings sold 12.04 million shares in OMX, its entire stake. (Reuters)
 
 
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