Wednesday, October 18, 2006
LSE: Nasdaq might consider bidding for LSE before March if deal recommended
Nasdaq might consider bidding for the London Stock Exchange [LSE] before next March if an offer were recommended, it is believed.
The two exchanges are not in talks, but Nasdaq might consider making an offer were LSE chief Clara Furse to bow to shareholder pressure and seek out the US exchange to do a deal. Nasdaq, with its 25% holding in LSE, is believed to feel that it has a number of options.
The US exchange believes the most logical course of action is to wait until next March, when a year will have elapsed since it paid an effective highest price of GBP 12.43 (EUR 23.20) a share for its LSE stake and is free to bid below this price, it is thought.
It does not feel pressurised to do a deal by the prospect that its rival, the New York Stock Exchange, could steal several months in the consolidation stakes by doing a deal with Euronext in the New Year, it is believed.
Nasdaq feels NYSE is facing considerable obstacles in its efforts to seal a cross-Atlantic deal, it is thought.
by Cathy Cooper
Source mergermarket
The two exchanges are not in talks, but Nasdaq might consider making an offer were LSE chief Clara Furse to bow to shareholder pressure and seek out the US exchange to do a deal. Nasdaq, with its 25% holding in LSE, is believed to feel that it has a number of options.
The US exchange believes the most logical course of action is to wait until next March, when a year will have elapsed since it paid an effective highest price of GBP 12.43 (EUR 23.20) a share for its LSE stake and is free to bid below this price, it is thought.
It does not feel pressurised to do a deal by the prospect that its rival, the New York Stock Exchange, could steal several months in the consolidation stakes by doing a deal with Euronext in the New Year, it is believed.
Nasdaq feels NYSE is facing considerable obstacles in its efforts to seal a cross-Atlantic deal, it is thought.
by Cathy Cooper
Source mergermarket
