(Reuters) – Borse Dubai’s $4 billion bid for Nordic exchange owner OMX on Friday pits it against U.S. exchange NASDAQ, which has an agreed offer currently worth around $3.7 billion to buy the company.
Here are some of the key facts about the two offers:
OFFERS AND STAKES
— Borse Dubai offered 230 crowns per share on Friday, valuing OMX at 27.7 billion Swedish crowns ($3.98 billion).
— Nasdaq has offered 0.502 new Nasdaq shares and 94.3 Swedish crowns. On Friday, this was worth 198 crowns per share.
— OMX’s board said it supported the offer from Nasdaq when it was unveiled on May 25.
— Borse Dubai began a book-building operation on Aug 9, saying it was buying stock or options to buy shares at 230 crowns per share.
— Borse Dubai said on Friday it controlled 28.4 percent of OMX. That is up from the 27.5 percent reported on Monday.
— Borse Dubai said in a conference call it hoped it could complete a deal this year.
— Excluding Borse Dubai, the biggest single shareholder in OMX is Investor AB, with 10.7 percent.
— The Swedish government owns 6.6 percent. Financial Markets Minister Mats Odell said on Friday Sweden would review the Borse Dubai proposal. The government has previously announced plans to sell its stake in OMX.
— As of Aug 10, Citigroup Global Markets Ltd had 6.3 percent and Nordea had 5.3 percent, according to Swedish shareholder register SIS.
— Borse Dubai’s chief executive is Per Larsson, who formerly was head of OMX, which joined the Helsinki exchange in 2003. Larsson did not get the top job at the combined group and left.
— Borse Dubai is a holding company for the Dubai government’s stakes in Dubai Financial Market and the Dubai International Financial Exchange (DIFX).
— Borse Dubai was formed this month, at which point DIFX chief executive Larsson was appointed head of Borse Dubai.
— OMX, in addition to owning and running exchanges in Sweden, Denmark, Finland, Iceland and the Baltic states, provides technology to about 60 exchanges worldwide, including the Australian Securities Exchange, Nordic power market Nordpool and the Singapore Exchange.
— Magnus Bocker is the chief executive of OMX. Born in 1961, has been with OMX since 1986, according to the company’s website.