Market: Euronext submits an indicative offer to buy Allfunds

PARIS (Reuters) – Euronext announced on Wednesday that it had submitted an indicative offer to buy the British fund distribution platform Allfunds and indicated that it was in discussions with its main shareholders, confirming information from the Bloomberg agency.

“This indicative offer is conditioned, among other things, by the conclusion of an agreement with the main current shareholders of Allfunds”, indicates the operator of the Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan and Oslo stock exchanges in a communicated.

“This indicative offer is currently being reviewed by Allfunds’ board of directors and Euronext reserves the right to modify its terms,” ​​Euronext continues.

The Allfunds group has meanwhile indicated that it has received an offer at a price of 8.75 euros per ordinary share, while on the Amsterdam Stock Exchange, the title is trading around 8.57 euros.

On the Paris Bourse, the Euronext share fell in the early afternoon following information from Bloomberg and dropped around 6% at 4:30 p.m. to 72.18 euros.

The Allfunds title climbed by 16.5%.

(Written by Matthieu Protard and Laetitia Volga)

Copyright © 2023 Thomson Reuters

Source link -84