Euronext placed the leading bid of 158 NOK on 11 February – after launching its first bid at 145 NOK on Christmas Eve and being overbid by Nasdaq with 152 NOK on 30 January.

The board’s darling

After Nasdaq’s high bid in January, the board of Oslo Børs VPS expressed its support. It did not change its mind after Euronext’s topping up.

The fact that Nasdaq places a bid that is not above Euronext could indicate that it is confident to be the favoured buyer among existing shareholders.