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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.    BME   ES0115056139

BOLSAS Y MERCADOS ESPAÑOLES, SOCIEDAD HO

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Swiss exchange operator SIX says offer for BME is fair for now

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11/19/2019 | 07:57am EST

SIX Group's offer for Spanish bourse operator BME is "financially attractive" for BME shareholders, SIX's CEO said on Tuesday, without directly responding to questions on whether rival offers could lead the Swiss group to up its bid.

Pan-European stock market operator Euronext and SIX entered a bidding way for BME on Monday, with both trying to snap up one of Europe's last standalone stock exchanges.

"We will see what happens in the future," SIX CEO Jos Dijsselhof told a news conference in Madrid, when asked whether his company would raise its offer for BME, given the potential interest from other bidders.

SIX offered 2.84 billion euro (£2.4 billion) for BME.

Earlier on Tuesday, Spanish news outlets La Informacion and Cinco Dias respectively reported that Deutsche Boerse and the Hong Kong Stock Exchange were considering acquiring BME too.

Deutsche Boerse and the Hong Kong stock exchange declined to comment.

In a formal offer filed with Spain's market regulator on Monday, the Swiss exchange operator had offered BME 34 euros per share in cash, implying a total equity value of 2.84 billion euros ($3.13 billion).

Dijsselhof said that the rationale behind SIX'S bid for BME was creating growth opportunities in both countries rather than focusing on cost-cutting measures.

SIX's CEO also said that the company's initial intention was not to delist BME, "but to offer all shareholders the opportunity to sell their shares."

"If we get more than 90% (of shares) it will be natural to do the squeeze out at the end."

(Reporting By Jesús Aguado and Clara-Laeila Laudette; editing by Jose Elias Rodriguez and Ingrid Melander)

Stocks mentioned in the article
ChangeLast1st jan.
BOLSAS Y MERCADOS ESPAÑOLES, SOCIEDAD HOLDING DE MERCADOS Y SISTEMAS FINANCIEROS, S.A. 0.46% 35.02 End-of-day quote.1.86%
DEUTSCHE BÖRSE AG 1.00% 146.45 Delayed Quote.4.50%
EURONEXT N.V. 0.52% 78 Real-time Quote.7.36%
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Financials (EUR)
Sales 2019 288 M
EBIT 2019 164 M
Net income 2019 125 M
Finance 2019 259 M
Yield 2019 4,17%
P/E ratio 2019 23,4x
P/E ratio 2020 22,8x
EV / Sales2019 9,19x
EV / Sales2020 9,00x
Capitalization 2 902 M
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Technical analysis trends BOLSAS Y MERCADOS ESPAÑOLE
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TrendsNeutralBullishBullish
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Mean consensus HOLD
Number of Analysts 9
Average target price 29,86  €
Last Close Price 35,02  €
Spread / Highest target 5,65%
Spread / Average Target -14,7%
Spread / Lowest Target -34,9%
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NameTitle
Javier Hernani Burzako Chief Executive Officer & Executive Director
Antonio Jose Zoido Martínez Non-Executive Chairman
Marta Bartolomé Yllera Financial Director
Francisco Nicolás Tahoces Technology Director
Joan Hortalá i Arau Executive Director