Euronext launches all-share offer for Athens stock exchange

(Reuters) -Euronext has offered to buy Hellenic Exchanges - Athens Stock Exchange (ATHEX) in a 412.8 million euro ($472.7 million) all-share deal, it said on Thursday.

The offer proposes a fixed conversion rate of 20 ATHEX ordinary shares for each new Euronext share, valuing ATHEX shares at 7.14 euros each, based on Euronext’s closing price of 142.7 euros on July 30.

ATHEX board of directors has unanimously supported the offer, entering into a cooperation agreement with Euronext, the Paris-listed company said.

($1 = 0.8733 euros)

(Reporting by Antonis PothitosEditing by David Goodman)