Euronext NV has withdrawn a takeover bid for investment-platform Allfunds Group Plc.
(Bloomberg) — Euronext NV has withdrawn a takeover bid for investment-platform Allfunds Group Plc.
Euronext “has informed the board of Allfunds that Euronext withdraws its indicative offer,” according to a statement Tuesday.
Allfunds, which offers investors access to a range of investment products in one place, disclosed this month that it had received a cash and stock bid from Euronext worth about €5.5 billion ($5.9 billion).
Allfunds works with almost 3,000 fund groups and has more than €1.3 trillion of assets under administration.
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