The Swiss group SIX, owner of Bolsas y Mercados Españoles (BME), has agreed with Aquis Exchange the conditions of a friendly cash takeover offer to acquire it at a price of 727 pence sterling per share (about 88 euro cents per share). current change). The offer places the value of the operation at 194 million pounds sterling (234 million euros).
Aquis, based in London, operates an alternative trading platform (markets other than official stock exchanges where listed shares can be bought and sold) that is the seventh in Europe. With this operation, the Swiss group intends to gain power in the European stock markets, according to The operator of the Swiss and Spanish stock exchanges reported this Monday.
The boards of directors of the Six and Aquis group have reached an agreement on the conditions of a friendly offer to acquire the entire share capital. Under the terms of the offer, each Aquis shareholder will be entitled to receive 727 pence (€8.75) per share in cash, valuing the entire issued and to-be-issued share capital of Aquis at approximately £207 million. sterling (249.4 million euros) using the treasury shares methodology. Likewise, it considers an enterprise value of approximately 194 million pounds sterling (233.8 million euros.
The offer provides value to Aquis shareholders at a premium of approximately 68% over Aquis’ six-month volume-weighted average price of 433 pence per share (€5.21) through November 8, 2024 (being the last trading day before beginning the Offer Period) and 120% above the closing price of 330 pence (3.97 euros) per Aquis share on November 8, 2024.
Six believes that the acquisition of Aquis is a “compelling strategic opportunity that will complement its strategy to expand its securities business beyond its domestic markets.”
In this way, the combined resources and capabilities of Six and Aquis will create a pan-European Exchange that encompasses the traditional primary market businesses of the Exchange and MTF.
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