Euronext Lowers Acceptance Threshold for ATHEX Acquisition to 50% + 1 Share
Euronext also reaffirmed that, if the offer is successful, it intends to integrate ATHEX into its corporate structure regardless of the final level of shareholder participation. Euronext announced late on Thursday that it is lowering the acceptance threshold for its voluntary tender offer to acquire Hellenic Exchanges (ATHEX Group), cutting the requirement from 67 percent to 50 percent plus one voting share. The move, made under the provisions of Greek takeover law and following a request to the Hellenic Capital Market Commission, takes advantage of the rule allowing bidders to amend offer terms up to five business days before the end of the acceptance period. The company said the adjustment increases the chances of completing the transaction successfully while providing ATHEX shareholders with greater certainty that they will secure the premium offered. Euronext also reaffirmed that, if the offer is successful, it intends to...
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