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Deals

Euronext says it will not make a counter-bid for Spain's BME

FILE PHOTO: The logo of stock market operator Euronext is seen on Euronext headquarters at La Defense business and financial district in Courbevoie near Paris, France, November 21, 2019. REUTERS/Charles Platiau

(Reuters) - Euronext ENX.PA said on Monday it would not make a takeover offer for Spanish stock exchange operator Bolsas y Mercados BME.MC.

“Euronext considers that the financial terms of a potential competing offer, despite the significant potential synergies, would not be compatible with value creation and adequate return on invested capital for Euronext shareholders,” the company said in a statement.

Spain’s market regulator CNMV cleared on Thursday a bid by Swiss exchange SIX to buy BME, but left a window for potential rivals to file a counter bid.

Reporting by Piotr Lipinski in Gdansk; Editing by Susan Fenton

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