Nasdaq makes hostile bid for LSE
by Brian Turner
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The US Nasdaq exchange has launched a hostile takeover bid for the London Stock Exchange (LSE).
It comes after more than a year of takeover offers and merger propositions from a range of companies, along with two previously rejected offers from the Nasdaq.
At present, the LSE is advising shareholders against Nasdaq’s hostile offer of £12.43/share, stating that this undervalues the company.
Whatever the outcome of this, one thing remains certain - the London Stock Exchange is considered a prize acquisition that few corporations can afford to buy.
The Nasdaq bid required a $5 billion loan to make, but even that may not be enough for one of the hottest properties in the equities market.
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