Euronext withdraws bid for Allfunds

Pan-European stock market operator Euronext said on Wednesday it had withdrawn a non-binding offer to buy Allfunds, a British firm that provides services to fund managers. Euronext gave no details for the decision concerning the proposed cash-share transaction worth 5.5 billion euros ($5.8 billion). It said in a statement it had "informed the board of Allfunds that Euronext withdraws its indicative offer to acquire cent per cent of Allfunds' share capital". Following media speculation, Euronext confirmed late last month that it had submitted an indicative, conditional offer. Allfunds had said its board was reviewing the unsolicited offer, which valued the Britain-based firm at 5.5 billion euros. Euronext — whose exchanges include Amsterdam, Brussels, Dublin, Lisbon, Oslo, Paris, and Milan — had said there was no certainty a binding offer will be made. By RSS/AFP READ ALSO: 

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