Nasdaq Sets Deadline For LSE Bidders -- WSJ

Nasdaq announced it would give potential buyers of its 31% stake in the London Stock Exchange [LSE] until Friday to express their interest, the Wall Street Journal reported. It is not certain, however, that there will be any formal bids made between now and then, because it is not a hard deadline according to two sources familiar with the situation. Last week, there were around six companies considering putting in a bid, some even having talks with Nasdaq reps. One source also said that the Nasdaq was considering selling the shares on the open market. The U.S. exchange has accumulated the stake after two failed attempts to take over the LSE, and now needs some financial flexibility to fund an attempted buyout of OMX AB, a Nordic exchange operator (full story). The LSE stake is valued at approximately $1.71 billion.

Sources: Wall Street Journal, Reuters
Commentary: Nasdaq and Borse Dubai May Form Joint Bid for OMX -- Daily Telegraph • The Nasdaq Is a Buy on Valuation and Growth Catalysts • Nasdaq OMX Bid Aided by Swedish Politics
Stocks/ETFs to watch: NDAQ. Competitors: CME, NMX, NYX. ETFs: EXB
Earnings call transcript: The Nasdaq Stock Market Q2 2007

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