MADRID, 1 Mar. (EUROPA PRESS) -
The pan-European stock exchange operator Euronext has informed the Allfunds board that it is withdrawing its indicative offer to acquire 100% of the share capital of the fintech, which valued the company at 5,500 million euros, after both parties have not reached an agreement about the conditions of the proposal.
Allfunds' board had deemed the terms of Euronext's proposal inadequate and after failing to reach any agreement on the terms of the proposal in talks, they were terminated, the investment platform said.
In its indicative and conditional proposal for an unsolicited public offer for the entire share capital of Allfunds, unveiled on February 22, Euronext proposed the payment of 8.75 euros per share at a rate of 5.69 euros in cash plus 0, 04059 new Euronext shares.
Likewise, Euronext had reported that it had been in talks with Hellman