OMX AB has signed a Letter of Intent to acquire the Copenhagen Stock Exchange, aiming to create a leading integrated Nordic and Baltic securities market.
Target Information
OMX AB (publ) has signed a Letter of Intent to acquire the Copenhagen Stock Exchange A/S (CSE), marking a significant step towards creating an integrated Nordic and Baltic securities market. This strategic combination aims to enhance OMX's position as a leading European exchange organization and adhere to their vision of market integration.
The acquisition reflects a total valuation of DKK 1.22 billion for CSE, incorporating net cash of DKK 258 million as of September 30, 2004. Shareholders of CSE will have the option to choose between cash compensation, newly issued OMX shares, or a mix of both in the eventual offer following the establishment of a formal Combination Agreement expected in December.
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Industry Overview
In recent years, the Danish securities market has experienced robust growth, facilitated largely by a partnership in the NOREX Alliance that employs the SAXESS common tra
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OMX AB (publ)
invested in
Copenhagen Stock Exchange A/S
in 2004
in a Merger deal
Disclosed details
Transaction Size: $198M
Revenue: $30M
Net Income: $34M
Enterprise Value: $198M
Equity Value: $196M
Multiples
EV/Revenue: 6.7x
P/E: 5.8x
P/Revenue: 6.6x