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Nasdaq says it won't raise offer for London Stock Exchange before bid deadline

Nasdaq says it won't raise offer for London Stock Exchange before bid deadline

The Nasdaq Stock Market Inc. said Friday that it would not raise its offer to take over the London Stock Exchange before it expires this weekend.
In an announcement to the London Exchange, Nasdaq said there wasn't enough time left to make any agreement with the LSE board to sweeten the 1,243 pence (US$24.02; euro18.47) per share offer.
The announcement came just ahead of the deadline for LSE shareholders to accept the offer, which values the exchange at 2.7 billion pounds (US$5.3 billion; euro4 billion).
"In Nasdaq's view, there is now insufficient time to effect any revision of the final offers via constructive dialogue with LSE and an LSE Board recommendation by the deadline of midnight (London time) on Saturday 27 January 2007," the New York-based market said. "Accordingly, Nasdaq announces that the final offers can no longer be revised upon the recommendation of the LSE board."
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On the Net:
http://www.londonstockexchange.com
http://www.nasdaq.com


Updated : 2021-05-16 05:50 GMT+08:00