Euronext Modifies Its Stock Exchange Offer for ATHEX
Euronext N.V. has submitted a request to revise its public exchange offer for the ordinary shares of ATHEX, reducing the minimum number of shares required to complete the offer.
Revision of the Voluntary Public Purchase Offer
Euronext N.V. announced, according to a press release, that it has submitted a request to revise its voluntary public purchase offer for the registered ordinary shares of Hellenic Exchanges-Athens Stock Exchange S.A. (ATHEX). Initially, the offer required that 38,759,500 ATHEX shares, representing at least 67% of the voting rights, be validly submitted to complete the transaction. The revised offer lowers this threshold to 30,174,001 shares, which is 50% plus one share of the total voting rights. This revision is still subject to approval by the Hellenic Capital Market Commission (HCMC), in accordance with current legislation.
Offer Acceptance Period and Terms
The acceptance period for the offer, which began on October 6, 2025, continues until November 17, 2025, with no extension planned, according to the company. Shareholders who have already accepted the initial offer will be considered as having accepted the revised terms. Deutsche Bank AG is advising Euronext in this transaction and has certified the Offeror's ability to issue and deliver the necessary counterparty shares. The offer consists exclusively of shares as counterparty, and these counterparty shares will not be offered to the public in certain territories, in accordance with local regulations.
Regulatory Conditions and Excluded Shareholders
The offer is primarily addressed to ATHEX shareholders and is subject to regulatory conditions in force in each region. Residents or nationals of jurisdictions where the offer cannot legally be made, referred to as 'Excluded Shareholders', must comply with the laws of their respective jurisdiction. Euronext has taken all necessary steps to ensure the completion of the offer in accordance with the defined terms, although the occurrence of a force majeure event may affect its execution. The group emphasizes that, despite the reduction in the minimum number of shares required, the offer remains credible according to the advisor.
