Euronext - Assemblée générale des actionnaires du 16 mai 2019
Le principal sujet de la présente assemblée est l'acquisition capital d’Oslo Bors VPS Holding ASA (« Oslo Bors ») par Euronext au prix de 706 M€. D'un point de vue stratégique, l’acquisition proposée est justifiée puisqu’elle permettra à Euronext d’étendre sa couverture géographique, renforçant ainsi son caractère pan-européen, tout en étant acteur du marché nordique actuellement aux mains de Nasdaq. D’un point de vue financier, le prix d'acquisition proposé (qui est également le prix proposé par Nasdaq) présente une prime de 44% sur le cours d’Oslo Bors au 17/12/2018 et 46% sur la moyenne des 3 mois précédents. Cette prime semble plutôt généreuse, ce qui explique qu’Euronext ait réussi à sécuriser 53,2% du capital d’Oslo, mais au regard des multiples comptables, elle semble justifiée. Nous soutenons donc cette proposition.
Euronext is a cross-border exchange. Co. operates combined regulated markets across Belgium, France, the Netherlands, Portugal and the United Kingdom (derivatives only). Co. offers a range of integrated services including the listing of financial instruments, trading in securities and derivatives, clearing, netting and settlement, market data dissemination and IT solutions and support. Co.'s customers include listed companies, members, institutional and individual investors who trade on Co. markets, other organizations, notably exchanges that use its technologies and services, and users of the financial and information generated by market activity.
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