Euronext has confirmed it is in discussions with theboard of Hellenic Exchanges-Athens Stock Exchange (ATHEX) over a possibleacquisition of the Greek market operator. The potential transaction would be structured as ashare exchange, valuing ATHEX at €6.90 per share and the entire capital of thecompany at €399 million.In a statement released on Monday, Euronext said theproposed deal would involve a fixed conversion rate of 21.029 ATHEX ordinaryshares for each new Euronext share. Based on Euronext’s closing price of €145.10 on June30, the offer would value ATHEX at €399 million on a fully diluted basis. Theoffer remains subject to due diligence, and no final agreement has beenreached.Part of a Broader EU Market Consolidation StrategyThe move aligns with Euronext’s long-term strategy toconsolidate European capital markets. The company, which already operates exchanges inAmsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris, is the largestliquidity pool in Europe, accounting for around 25% of all cash equity tradingactivity across the region.Euronext said the acquisition of ATHEX would supportthe harmonization of European capital markets and allow Greek financialparticipants to access a wider pool of liquidity. Euronext also framed the deal as a vote of confidencein the Greek economy and the potential of its capital markets. A merger wouldgive Greek issuers and investors access to a broader financial infrastructureand position the country more firmly within the European Union’s capitalmarkets network.Greece Seen as Strategic Growth OpportunityIf completed, the transaction would give ATHEX accessto a group that currently hosts more than 1,800 listed companies with acombined market capitalization exceeding €6 trillion.Euronext emphasized that the discussions are ongoingand that there is no certainty that an agreement or offer will result. The companystated that any potential deal would follow its existing financial disciplineand strategic investment criteria. Further updates will be provided if materialdevelopments occur.This article was written by Jared Kirui at www.financemagnates.com.