Cinnober Shareholders to Mull Revised Nasdaq Offer

US exchange group’s offer rejected by holdout investors who deemed Swedish fintech firm undervalued.

stockholm

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.

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