The Supervisory Board of Euronext NV and the Board of Directors of BVLP - Bolsa de Valores de Lisboa e Porto - approved the financial terms of the merger of BVLP and Euronext. BVLP shareholders will be offered 0.806475 new Euronext shares and Euro 5.833333 in cash for each BVLP share. If fully subscribed, these terms would give BVLP shareholders 4% of Euronext's fully diluted and enlarged share capital. The cash element would amount to Euro 35 million. The offer is subject to the finalisation of due diligence. The agreement on the financial terms is a major step towards the completion of this merger.
This agreement follows the signing on 13 June 2001 by Euronext and BVLP of a Memorandum of Understanding outlining their intention to merge. Euronext and BVLP are finalising the other legal and technical terms of the merger and will announce more details at a later date.
