Articles > Newspapers > International Newspapers, Major Markets > The Independent (London, England) articles > August 2007

Article: Nasdaq promises LSE veto over stake sale

Article from:
The Independent (London, England)
Article date:
August 29, 2007
Copyright

By Danny Forston

Nasdaq has agreed to seek the "tacit approval" of Clara Furse, chief executive of the London Stock Exchange, before it goes ahead with the sale of its minority stake in the bourse to any single buyer.

Since the New York exchange announced earlier this month that it may sell its 31 per cent holding - worth about 800m - speculation has been rampant that it could unload the stake to a rival exchange, triggering yet another takeover bid for the long-sought-after exchange.

According to sources close to the situation, advisors to the companies have agreed that Nasdaq would not shift the entire 31 per cent without first getting the informal blessing of the LSE. Nasdaq's holding is ...

Read all of this article with a FREE trial

Related newspaper, magazine, and journal articles:

Article: LSE stake goes to Borse Dubai.
Investors Chronicle - magazine and web content;  September 20, 2007 ;     700+ words ... ... Stock Exchange to Borse Dubai in a complex manoeuvre ... with stakes in the LSE, Nasdaq and Nordic ... winner looks to be Borse Dubai, as it will end ... 28 per cent of the LSE, 19.99 per cent ... OMX Group. For the LSE, it is very much ... here we go again. Borse Dubai ...

Article: Borse Dubai to retain LSE stock.(Business)
The Daily Mail (London, England);  June 16, 2009 ;     365 words ...BORSE Dubai intends to retain its 21pc stake ... All options are on the table.' Borse Dubai acquired the stake from Nasdaq in ... initial 28pc holding was diluted after LSE's tie-up with Borsa Italiana. LSE shares ended the day 171/2p lower ...

Article: Nasdaq, Borse Dubai Raise OMX Bid
AP Online;  September 26, 2007 ;     700+ words ... ... support." Nasdaq and Borse Dubai struck a deal last week ... control of OMX, while Borse Dubai would get a 20 percent ... acquired 20 percent in the LSE and nearly 10 percent ... exchange. Nasdaq and Borse Dubai raised their bid to 265 ...

Article: Nasdaq Strikes Deal With Borse Dubai
AP Online;  September 20, 2007 ;     700+ words ... ... an intention to bid. LSE shares soared 11.6 ... 53) on Thursday. Borse Dubai is paying 1,414 pence ($28.38) per LSE share in its deal with ... percent stake in the LSE to focus on the battle ... would sell 28 percent to Borse Dubai to pay down about $1 ...

Article: Nasdaq to Acquire OMX in Borse Dubai Deal
AP Online;  September 20, 2007 ;     700+ words ... ... to take over the LSE earlier this year ... with cash-rich Borse Dubai for OMX while Dubai ... and platform," Borse Dubai Chairman Essa Kazim ... liquidity." The LSE said it would have ... percent stake in the LSE to focus on the battle ... sell 28 percent to Borse Dubai to ...

Article: Borse Dubai Gets Stake in Nasdaq
AP Online;  September 20, 2007 ;     700+ words ... ... most of its stake in the LSE to Borse Dubai. Borse Dubai's voting ... of the 300-year-old LSE, Europe's largest exchange. The LSE, which has fought off a ... comment on the Nasdaq-Borse Dubai deal, but said it welcomed ...

Article: Bourse seals deal: Borse Dubai rises as a global ...
MEED Middle East Economic Digest;  September 21, 2007 ;     700+ words ... ... Stock Exchange (LSE). In return, Nasdaq will gain Borse Dubai's stake in the ... financial force, Borse Dubai will take 28 per cent of the LSE, at $28.40 ... investment in the LSE," said Soud ... chairman of Borse Dubai, in a statement ...

Article: Borse Dubai in $4bn hostile offer for OMX ; ...
The Independent - London;  August 18, 2007 ;     562 words ... ... caught OMX off guard. Borse Dubai's chief executive, Pers ... other approaches." In the LSE battle, Mr Greifeld painted ... his offer even though the LSE's share price was trading ... above the offer price. Borse Dubai's offer of 230 Swedish ...

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!

Find articles, research, and archives