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By Sheena Lee

Deal Idea: Amid mergers with exchange operators, which names may be next? High on the list of potential deal makers are Nasdaq (NASDAQ:NDAQ); CME, which operates the Chicago Mercantile Exchange and the Chicago Board of Trade; and CBOE, which runs the Chicago Board Options Exchange, according to New York Times’ DealBook. “The CME, the CBOE and Nasdaq are now forced to make their next move,” said Patrick J. Healy, the chief executive of the Issuer Advisory Group, a New York-based adviser to companies on listing their shares.

Deal Idea: LeapFrog Enterprises’ (NYSE:LF) disappointing outlook last month battered its shares, making the educational toy maker a potential $650 million target for Mattel (NASDAQ:MAT) or Hasbro (NASDAQ:HAS), the two largest U.S. toy makers. (Reuters)

Deal Update: The Dynegy (NYSE:DYN) board committee supervising the energy company’s sale process issued a letter to shareholders, urging them to accept a $665 million takeover offer by Carl Icahn. (DealBook)

Deal Update: A Pride International (NYSE:PDE) shareholder has filed a class action lawsuit against the Houston-based company, hoping to halt its planned merger with Ensco (NYSE:ESV), a rival offshore oil drilling contractor. (DealBook)

Rumor: Tesoro (NYSE:TSO) shares up 2% on the back of market talk that it is weighing up takeover offer from Sunoco (NYSE:SUN). Market talk that Intel (NASDAQ:INTC) is interested in Nvidia (NASDAQ:NVDA). (RANsquawk)

Other Deal Activity:

Nokia (NYSE:NOK) and Microsoft (NASDAQ:MSFT) have officially entered a strategic alliance that makes Windows Phone 7 Nokia’s primary smartphone platform, but also extends into many other Microsoft services such as Bing, Xbox Live and Office. (Mashable)

Private equity firm BC Partners is in advanced talks to acquire Polish grocery store chain Zabka Polska SA from Czech rival Penta Investments. (Dow Jones)

Source: Exchange Mergers Put Nasdaq, CME, CBOE in Play