Tuesday, September 4, 2007
Nasdaq has set a soft deadline of Friday for expressions of interest in buying its 31% stake in the London Stock Exchange, valued at $1.7 billion. Nasdaq made two unsuccessful attempts to buy LSE and now needs the cash to finance its bid for the Nordic exchange operator OMX AB, which faces competition from the Borse Dubai. So far Nasdaq has received no offers for LSE; It appears that a large minority stake in an enterprise that does not want a change of control is not a desirable commodity. WSJ, Nasdaq Sets a Deadline In Bidding for LSE Stake.