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Article: Nasdaq Raises Stakes In LSE Courtship.(London Stock Exchange)
- Article from:
- Investment Dealers' Digest
- Article date:
- May 8, 2006
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Observers were left wondering last week exactly what Nasdaq is up to after the exchange bumped up its stake in the LSE to nearly 19%, buying another 9.8 million shares at $22.40 per share. The move comes a few weeks after Nasdaq bought some 38 million LSE shares from Threadneedle Investments and Scottish Widows Investment Partnership, making it the LSE's largest shareholder with a then 15% stake.
Some in the market thought they knew Nasdaq's intentions. "They're definitely trying to acquire the LSE. It's just another step in the process. It doesn't guarantee them anything, but it gets them closer to their goal," said Rich Ropetto, a principal at Sandler O'Neill ...