Summary
The NASDAQ OMX Group, Inc. (NDAQ) has filed an 8-K report on October 23, 2008, to announce the completion of its acquisition of Nord Pool ASA's clearing, international derivatives, and consulting subsidiaries. This significant transaction, valued at approximately $325 million, was financed through a combination of cash, a vendor note, and a $300 million term loan drawn from its existing credit facility. The acquisition is expected to expand NASDAQ OMX's European presence and capabilities in the derivatives market.
Key Highlights
- 1Completion of the acquisition of Nord Pool ASA's clearing, international derivatives, and consulting subsidiaries on October 21, 2008.
- 2The aggregate purchase price was NOK 2,182 million (approximately $325 million).
- 3The purchase price was comprised of NOK 1,725 million (approx. $257 million) in cash and NOK 457 million (approx. $68 million) via a vendor note.
- 4Potential for additional earn-out payments of up to NOK 800 million (approx. $119 million) based on volume measurements over five years.
- 5Financing for the acquisition included a $300 million delayed draw term loan from NASDAQ OMX's existing credit facility.
- 6The acquisition is expected to enhance NASDAQ OMX's European operations and derivatives market offerings.
- 7A press release dated October 22, 2008, detailing the acquisition closing is attached as an exhibit.