Euronext offers €5.5 bln for Allfunds
Euronext makes preliminary offer for Allfunds to diversify business
Euronext has made a preliminary offer for fund distribution firm Allfunds in efforts to diversify its business. Euronext is offering €8.75 per share, of which €5.69 would be in cash and 0.04059 in new shares.
Euronext has made a preliminary offer for fund distribution firm Allfunds in efforts to diversify its business. Euronext is offering €8.75 per share, of which €5.69 would be in cash and 0.04059 in new shares.
Allfunds’ market cap is €4.6 billion, lagging behind the €7.2 billion valuation it held at its 2021 listing in Amsterdam.
To increase revenue and lessen their sensitivity to fluctuations in asset values, exchanges have been attempting to diversify their operations away from trading securities.
A number of acquisitions have been made by Euronext over the previous several years, notably the merger of the Milan Stock Exchange, which the corporation acquired in 2021 for €4.4 billion.
