Jos Dijsselhof is stepping down as CEO of the Swiss stock exchange operator Six Group, leaving behind a mixed legacy marked by unfulfilled strategic goals and significant financial write-downs, including CHF 860 million on Worldline shares. Despite expanding internationally, Six has struggled to integrate its acquisitions and achieve the necessary economies of scale, raising concerns among its banking shareholders, particularly UBS, which now holds a 34.5% stake. The Board of Directors must now navigate these challenges and ensure responsible growth moving forward.
UBS's influence over the Swiss stock exchange SIX deepens as it advises and finances its acquisition of UK trading venue Aquis for approximately 235 million Swiss francs. With UBS owning about 35% of SIX, questions arise regarding the exchange's independence amid past losses from international expansions. The complexities of this consolidation highlight the intertwined nature of Switzerland's financial landscape.
SIX Group has agreed to acquire Aquis Exchange, a British multilateral trading system operator, for approximately £207 million, offering shareholders 727 pence per share, a 68% premium over the average price. This acquisition will enhance SIX's operations across 16 European markets and expand its product offerings, benefiting customers and shareholders alike. Aquis CEO Alasdair Haynes emphasized the opportunity to accelerate growth and enhance competitiveness in Europe while maintaining their entrepreneurial spirit.
SIX Group AG, the operator of the Swiss Exchange, has agreed to acquire UK-based Aquis Exchange Plc for approximately £194 million ($250 million). The deal, which offers 727 pence per share, represents a 120% premium over Aquis's recent closing price and has received unanimous support from Aquis's directors.
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