OM Exchange bid won 1% support

By THIS IS MONEY
Updated:

 

OM Group, the Swedish £1bn bidder for the London Stock Exchange, admitted today that by the close of play on Friday, the day it raised its bid, it had received acceptances for just 300,000 shares or 1% of the Exchange's shares.

But it pointed out that this acceptance level referred only to its earlier offer, which was worth just over £720m.

OM shares were eight kronor higher at 363 kronor (£25) which pushed the value of its all-share bid to £35 and its alternative majority cash offer to £32.50.

OM's advisers Lazard and Enskilda Securities own a further 200,000 and 90,000 LSE shares respectively. LSE shares were unchanged and untraded at £28 on Monday morning.

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