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Shareholders Approve Cinnober Takeover by Nasdaq

Shareholders in exchange and clearing technology provider Cinnober have accepted a revised $220 million acquisition offer made by Nasdaq late last month. The US exchange operator said that following a majority approval, it will control 98.2% of the company. Cinnober provides exchange and clearing technology solutions, although it recently ventured into the cryptocurrency space through a partnership with cryptocurrency security specialist BitGo, to provide technology solutions to crypto exchange operators in order to handle increasing trading volumes. Nasdaq concluded that settlement of the shares for which acceptances are approved during the extended acceptance period is expected to begin around February 6th. The exchange is also awaiting approval from the UK’s Competition and Markets Authority (CMA) before the acquisition can officially close.

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