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Article: Nasdaq Acquires Stake in Operator of LSE
- Article from:
- AP Online
- Article date:
- April 11, 2006
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AP Online
04-11-2006
Dateline: LONDON
The Nasdaq Stock Market Inc. said Tuesday it has acquired a stake of nearly 15 percent in the operator of the London Stock Exchange.
The New York-based Nasdaq said in a statement that it had acquired more than 35.4 million shares of the London Stock Exchange PLC from Threadneedle Asset Management Ltd. and another nearly 2.7 million shares to take its holding to 38.1 million shares, or 14.99 percent, of the LSE's outstanding shares. It said the stake was worth 447.7 million pounds ($781.7 million).
The LSE has rebuffed Nasdaq and several other potential suitors in the past few years, saying their offers inadequately valued the exchange.
LSE officials said ...