Wednesday, May 03, 2006

Update on NASDAQ-LSE

This one sure has legs. It has been going on seemingly forever.

Nasdaq increases stake in the LSE:
"Former takeover suitor Nasdaq Stock Market Inc. revealed Wednesday that it has increased its stake in the London Stock Exchange PLC to 18.9 percent....The purchases are the second major move by Nasdaq to increase its share of the bourse -- Europe's oldest and largest -- since it abruptly dropped a 2.4 billion pound (US$4.4 billion; euro3.7 billion) bid in March."

"Nasdaq dropped its takeover bid without explanation on March 30 and, under British takeover laws, must wait six months from that date before making another bid -- unless the LSE backs a revised offer or another buyer emerges"

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