Euronext Offers to Buy Athens Exchange for €413 Million (3)

Euronext NV submitted a higher offer for the Athens Stock Exchange, valuing the Greek bourse at around €413 million ($472 million) in an all-stock deal.

The non-binding offer values Hellenic Exchanges - Athens Stock Exchange S.A. at €7.14 a share, based on Euronext’s Wednesday closing price, the company said in a filing. That compares with an initial offer of €6.90 made on July 1, which valued Athex at €399 million. The improved bid gives a premium of about 19% to the closing price on June 30.

The board of the Athens Stock Exchange said it is unanimously supportive of ...