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Article: LSE in crunch talks with Nasdaq over Big Apple bid DEAL OF THE WEEK: LONDON STOCK EXCHANGE DEAL OF THE WEEK: LONDON STOCK EXCHANGE London courts other suitors claiming 'bottom price' of pounds-2.97bn is too cheap
- Article from:
- The Sunday Herald
- Article date:
- April 16, 2006
- Author:
CopyrightCopyright 2006 The Sunday Herald. Provided by ProQuest LLC. (Hide copyright information)
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THE future of the London Stock Exchange could be decided this week
when it meets with Nasdaq to discuss a possible takeover bid by the
New York-based exchange.
The LSE's previous defensive strategy was in question after two of
the shareholders crucial to rebuffing the bid sold their shares to
Nasdaq. On Wednesday, Nasdaq spent pounds-448 million on a 14.99-per
cent stake in LSE. The seller was Threadneedle Investment, which has
been the exchange's strongest supporter of independence, and
Edinburgh-based Scottish Widows Investment Partnership, another
staunchly pro-independence shareholder.
Nasdaq now owns the maximum stake currently permitted. After seven
days it can add another 10-per cent, ...