STOCKHOLM (Reuters) – Sweden’s Securities Council said on Tuesday it had given Borse Dubai until Jan. 15, 2008 to file formal offer documents on its takeover offer for OMX, extending the deadline from Nov. 1.
OMX’s board has recommended a cash offer of 265 crowns per share from state-run Borse Dubai, which has teamed up with U.S. exchange Nasdaq to buy the Nordic and Baltic exchange owner.
The firms have said the offer has received acceptances representing 47.6 percent of OMX shares.
The council is a private sector association which has a regulatory mandate to decide on some market-related matters. It is not uncommon for deadlines to be extended.