Global law firm Ashurst is advising The International Stock Exchange Group Limited (TISE) on the recommended cash takeover of TISE by MIH East Holdings, Limited, a subsidiary of Miami International Holdings, Inc. (MIH), announced today. The offer price of £22.50 per share values TISE's entire issued and to be issued ordinary share capital at approximately £70.4 million.
Headquartered in Guernsey, TISE provides financial markets and securities services to public and private companies. Best known as one of Europe’s major professional bond markets, at the end of 2024 TISE reported having over 4,400 securities on its Official List with a total market value of more than £750 billion.
MIH is a technology-driven leader in building and operating financial marketplaces enabled by its in-house built, proprietary technology. It owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire LLC (MIAX Sapphire™), MIAX Futures Exchange, LLC (MIAX Futures™), MIAX Derivatives Exchange (MIAXdx™), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).
MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism.
The Ashurst team advising TISE is being led by partner Tom Mercer, supported by corporate transactions associates Millie Gibbs, Rosie Swanborough and Patrick Chambers. Counsel John Papadakis is providing incentives advice and partner Duncan Liddell and senior associate Laura Carter are providing anti-trust advice. Walkers are advising TISE on matters of Guernsey and Jersey law.
