COPENHAGEN, Denmark (AP) — Nasdaq has made an offer to acquire the Oslo stock exchange, the last trading place in the Nordic-Baltic region it doesn't own.

Bente A. Landsnes, head of Oslo Boers, recommended Wednesday that shareholders accept the offer and decline a rival bid by Euronext, saying it was "the best alternative for all stakeholders."

Nasdaq Nordic Chairman Lauri Rosendahl said the plan was not to turn the region into one market but maintain eight separate stock exchanges.

Nasdaq Nordic, which is behind the stock exchanges in Sweden, Denmark, Finland, Iceland and the three Baltic countries, offered 152 kroner ($17.88) in cash per share. That values the company at 6.5 billion kroner ($769 million) and was 7 kroner above an offer from Euronext.

Founded in 1819, the Oslo Boers has 220 companies listed.