The American technology exchange Nasdaq has made a takeover bid on Oslo Børs. The board of the Norwegian stock exchange company advises shareholders to accept Nasdaq’s proposal and to refuse the recently launched Euronext takeover bid. Nasdaq’s bid amounts to almost 674 million euros in cash, while the Euronext proposal is approximately 625 million euros. Nasdaq says it has the support of shareholders with more than a third of the Oslo Børs shares, including the two largest shareholders of the company. Nasdaq would further strengthen its position in Scandinavia with an acquisition of Oslo Børs. The company owns the stock exchanges in Denmark, Sweden and Finland. With its proposal, Euronext secured the support of shareholders with over 50 percent of the documents. Oslo Børs had invited potential counterparts to come up with proposals. Sources had previously reported to business newspaper Financial Times that Nasdaq was interested in interfering in the takeover battle. The British London Stock Exchange (LSE) would also view a bid. In an explanation, Oslo Børs points out various reasons for supporting Nasdaq’s bid, including regulations and brand retention. The company also states that a combination of Nasdaq and Oslo Børs will lead to a strengthening of Scandinavia as a capital market. Norwegian authorities The acquisition of Oslo Børs must be approved by the Norwegian authorities. It was announced on Tuesday that a Norwegian parliamentarian wants the government to put a stop to Euronext’s bid on Oslo Børs. According to the conservative parliamentarian Ove Trellevik, the function of the Norwegian stock exchange as a capital market may be at risk in a takeover by Euronext. A spokesperson for Euronext did not want to comment on the news about Nasdaq and Oslo Børs. Euronext is the operator of the stock exchanges in Amsterdam, Paris, Brussels and Dublin, among others.