Finance
Swiss bourse operator SIX to acquire UK’s Aquis Exchange
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ZURICH (Reuters) – Swiss stock exchange operator SIX Group said on Monday it has reached an agreement to acquire London-based Aquis Exchange Plc in a cash offer that puts an enterprise value of £194 million ($250.51 million) on the deal.
ZURICH (Reuters) – Swiss stock exchange operator SIX Group said on Monday it has reached an agreement to acquire London-based Aquis Exchange Plc in a cash offer that puts an enterprise value of £194 million ($250.51 million) on the deal.
“SIX considers the acquisition of Aquis to be a compelling strategic opportunity which will complement its strategy to scale the exchange business beyond its home markets,” SIX said in a statement setting out the terms of the deal.
Under the offer, each Aquis shareholder will be entitled to receive 727 pence per share in cash, SIX said.
The Swiss firm’s offer values the entire issued and to be issued share capital of Aquis at about £207 million based on treasury stock methodology, and implies an enterprise value of approximately £194 million, according to SIX.
($1 = 0.7744 pounds)
(Writing by Dave Graham, Editing by Friederike Heine)
An acquisition is the process of one company purchasing another company. This can involve buying the company's assets or shares to gain control over it.
A stock exchange is a marketplace where stocks, bonds, and other securities are bought and sold. It provides a platform for companies to raise capital and for investors to trade securities.
Enterprise value is a measure of a company's total value, often used as a comprehensive alternative to market capitalization. It includes market capitalization, debt, and subtracts cash and cash equivalents.
A cash offer is a proposal to purchase an asset or company for cash rather than stock or other forms of payment. It is often seen as a straightforward and attractive option for sellers.
A shareholder is an individual or institution that owns shares in a company. Shareholders have a claim on part of the company's assets and earnings.
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