SIX Exchange Group AG acquires Aquis Exchange plc

On 11 November 2024, the boards of Aquis Exchange plc (“Aquis”) and by SIX Exchange Group AG (“SIX”) announced that they have reached agreement on the terms of a recommended cash offer to be made by SIX, to acquire the entire issued and to be issued ordinary share capital of Aquis. Under the terms of SIX’s offer, Aquis shareholders will be entitled to receive 727 pence per Aquis share. The offer values Aquis at approximately £225 million on a fully diluted basis and represents a premium of approximately 120% to Aquis’ closing share price prior to the commencement of the offer period. Subject to satisfaction of conditions, the transaction is expected to complete in Q2 of 2025.

Lenz & Staehelin assisted Aquis on the Swiss regulatory aspects of this transaction, with Slaughter and May acting as lead counsel.