Nasdaq has boosted its offer for Cinnober Financial Technology after failing to reach a critical threshold of shareholder support, which values the Swedish firm at around $220 million.
Under the terms of the revised offer, Nasdaq will pay SEK 87 ($9.62) in cash for each share, and SEK 121 ($13.37) in cash for each warrant. The deadline for acceptance has also been extended until January 9, 2019. Under the terms of the agreement, the deal must gain approval from 90 percent of shareholders.
The founder and CEO of Imperative Execution looks at how trade execution is changing and what that means for the buy side.Subscribe to Weekly Wrap emails
- Waters Rankings 2019: All the Winners
- Mizuho Finds New Ways to “Activate” its Data Using AI
- Barclays Nearly Finished with First Major Quantum Computing Experiment
- The AI Ethics Dilemma: Banks Find a Fine Line Between New Tech and 'What's Right'
- Banks, Asset Managers Turn to Web Scraping to Generate Alpha