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’OMX suitors closer to winning control
Nasdaq and Borse Dubai moved closer on Wednesday to taking over OMX after key shareholders committed themselves to a raised offer for the Nordic exchanges operator. Nasdaq and Borse Dubai said they had received undertakings from enough shareholders to give them effective control of nearly half the group.
Sheikhs take stakes II: Exchange wars!
The Scando-Arab exchange dream edges ever closer to realisation.
Borse Dubai announced Wednesday it had upped its stake in OMX, the Scandinavian exchange, to 47.6 per cent. Or at least, was on the cusp of doing so through a series of option agreements and irrevocable offers.
After ‘Exchange Twister’ the new game is ‘Nationalist Frolics’
As Lex said, it’s just one big game of “exchange Twister” – (remember the game in which players tie themselves in knots moving their feet and hands around multi-coloured circles?). But even as we write,
LSE faces fresh bidding war
Two rival Gulf states vying for regional leadership in the global consolidation of exchanges have secured nearly 50% of the London Stock Exchange. Qatar Investment Authority and Borse Dubai acquired 48% of the LSE through a complex series of deals which are realigning ownership of Europe’s exchanges.
What it means: Lex on Nasdaq, Dubai and the LSE
The “giant game of Twister goes on”, says Lex. Borse Dubai has allowed Nasdaq a free run at OMX. The structure is “mind-boggling”, but Borse Dubai will, in effect, buy OMX then immediately sell it to Nasdaq,
The Emirate fights back – Qatar buy their own 20 per cent stake in LSE
Given that Qatar and the LSE have been courting for the past year, Nasdaq’s decision to sell its LSE stake to Borse Dubai was always going to get messy.
Earlier this week, all the signs were that the Qataris’ £2.8bn,
Nasdaq’s scando-arab ménage à trois sees Dubai take LSE stake
Finally. Closure. Dubai has overtaken Qatar and bought Nasdaq’s stake in the LSE.
It’s been a long and winding road. The Italians were interested – but dropped out last Thursday, Qatar was set to win on Monday,
OMX shares slump on deal expectation
Trading in shares of the Nordic stock exchange OMX, which is being fought over by Nasdaq and Borse Dubai, were suspended Wednesday afternoon amid speculation that the rival bidders would announce a deal on Thursday.
OMX soars on speculation over LSE stake
Shares in OMX, the Nordic exchange, soared on Tuesday amid speculation that Nasdaq is close to finalising a deal to sell its 31 per cent stake in the London Stock Exchange to either Qatar Investment Authority or Borse Dubai.
Qatar set to win $5.6bn LSE stake
Qatar’s state investment fund is set to win the auction of Nasdaq’s 31% stake in the London Stock Exchange Group after lodging a bid of £2.8bn ($5.6bn), reports the Sunday Times. The Nasdaq board met at the weekend to discuss the proposal.
Weekend catch-up: OMX, Godiva, HSBC
In case you missed it:
Borse Dubai presses on with OMX bid
Borse Dubai submitted its offer documents for its $4bn all cash bid for Nordic exchange OMX to the Swedish regulator Friday as it sought to catch up with rival bidder Nasdaq – which has offered $3.8bn in cash and shares.
Italian group set to shelve plans for LSE stake
A group of Italian financial foundations led by Clessidra, an Italian investment group, indicated Wednesday night it would shelve plans to bid for a stake of up to 10 per cent of the London Stock Exchange after being told by the LSE’s management that such a move would be seen as unfriendly.
LSE clearance sale progresses, reportedly
We’re starting to wish that everyone would just get a move on – the slow-drip of news stories about who might be interested in Nasdaq’s 31 per cent stake in the exchange feels interminable and repetitive.
Buyers eye Nasdaq’s LSE stake
Nasdaq has received expressions of interest from potential buyers of its 31 per cent stake in the London Stock Exchange and has asked serious bidders to sign confidentiality agreements before proceeding.
Swedish watchdog to rule on OMX
Sweden’s top white-collar crimes bureau will decide on Monday whether to launch a criminal investigation into allegations of insider dealing in Borse Dubai’s acquisition of nearly 29 per cent of OMX,
Nasdaq seeks probe of Borse Dubai’s OMX bid
Nasdaq has asked Sweden’s Securities Council to investigate Borse Dubai’s takeover offer for OMX, just four days after financial regulators ruled its takeover tactics had broken Swedish law. It is also understood that Sweden’s National Economic Crimes Bureau has made preliminary inquiries into Borse Dubai’s bid and may be considering its own investigation into the affair.
Borsa Londra
So maybe someone sees the logic in the London Stock Exchange (age 206) going full fat Italian, bringing in the oldest bank on the planet as a key shareholder to complement its recent deal to take over Borsa Italiana.
Swedish regulator set to rule on OMX bid
Sweden’s financial regulator is expected to issue a crucial ruling as early as Wednesday on whether Borse Dubai broke the law when it acquired a large stake in OMX ahead of launching a takeover bid. A negative ruling by Sweden’s FSA would put Borse Dubai under pressure to withdraw from the battle to control OMX and could hand victory to Nasdaq,
Nasdaq to sell £800m LSE stake for OMX bid
Nasdaq will sell its 31 per cent stake in the London Stock Exchange, valued at about £800m, as it steps up its fight with Borse Dubai, for OMX, the Nordic exchange and technology group. Nasdaq said it would use the proceeds from any sale to buy back shares,
Nasdaq could forego London to take on Dubai for OMX
Strapped for cash in Stockholm? There’s an ATM now available in London – at least for Nasdaq.
The US exchange, which has a fight on its hands in its bid to take over the Nordic exchanges operator OMX,
Dubai moves to combat hostility to OMX bid
Dubai hopes to blunt opposition to its $4bn bid for OMX, the Stockholm-based exchange, by offering a Borse Dubai board seat to a Nordic investor if it wins. Dubai faces a challenge in persuading OMX shareholders and Swedish regulators that its bid,
‘But they’re from Dubai’ – Nasdaq set for OMX fight
This was meant to be easier. Nasdaq was left battered by its failed tilt at the LSE, holding a 30 per cent stake in the London bourse and with a depleted balance sheet.
OMX seemed to offer a morale-boosting win at the very least – and OMX would give Nasdaq a platform on which to pursue its European ambitions,
Sweden steps up probe into OMX deal
Sweden’s financial regulator has intensified its investigation of Borse Dubai’s acquisition of a stake in OMX, fuelling doubts about its fitness to operate the country’s stock market. The Swedish FSA on Thursday sent additional questions to Borse Dubai,
Hedge funds step into battle for OMX
Hedge funds have acquired about 25 per cent of OMX ahead of an expected takeover battle for the Nordic market operator between Nasdaq and Borse Dubai. The funds’ presence paves the way for a clash between OMX’s long-term shareholders and management and financial investors,
OMX investors in warning for Borse Dubai
Large shareholders in OMX have sent out a clear signal that oil-rich Borse Dubai’s petrodollars do not guarantee it success in the forthcoming battle for control of the Nordic stock market operator. The Swedish government and Investor,
Borse Dubai bids for 25% of OMX
Borse Dubai on Thursday made a bid for a quarter stake in OMX, the Nordic exchanges operator, threatening to overturn an agreed deal between OMX and Nasdaq. Borse Dubai, an entity of the state-owned Dubai International Financial Exchange,
Dubai bourse muscles Nasdaq aside in move on OMX
It’s almost at the point these days where any self-respecting big investor needs to be buying into a stock exchange – and any successful company, from banks to retailers, is a target for Dubai’s seemingly endless investment funds.
Green light for LSE to buy Borsa Italiana
The London Stock Exchange is expected to gain clearance from its investors this week for the €1.6bn purchase of Borsa Italiana, the Milan exchange, reports The Times. Shareholders speaking for more than 50 per cent of the shares have indicated they will back the deal at Wednesday’s extraordinary meeting,
Nasdaq ‘Portal’ to court private placings
The booming US private placement market will receive a further boost mid this month, when Nasdaq launches Portal, an online system designed to enhance the liquidity and transparency of private placements.
Nasdaq backs LSE on Borsa Italiana
The Nasdaq stock market decided at a board meeting Wednesday to vote in favour of the proposed merger between the London Stock Exchange, in which it is the largest shareholder, and Borsa Italiana. The £1.1bn all-share transaction will dilute Nasdaq’s stake from 30 per cent to about 22 per cent,