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TOKYO, May 1 Asia Pulse - Osaka Securities Exchange Co. (TSE:8697) will likely launch a tender offer for Jasdaq Securities Exchange Inc. as early as July now that Jasdaq directors who had opposed an integration of the two stock market operators are on the way out, The Nikkei learned Wednesday.
The OSE hopes to reach an agreement on combining the two bourses' computer systems -- a prerequisite for a tender offer -- with Jasdaq's new management team by the end of June. After that, it plans to assess Jasdaq's assets in order to set a tender offer price. It intends to make a tender offer once it agrees on a price with the Japan Securities Dealers Association, a major shareholder in Jasdaq.
Jasdaq's board of directors on March 24 voted down a proposal to integrate systems, dealing a setback to the Osaka bourse.
But an outside director at ...
Source: HighBeam Research, OSAKA BOURSE LIKELY TO MAKE TENDER OFFER FOR JASDAQ IN JULY.