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Business News/ Opinion / Online-views/  Nasdaq to acquire OMX in deal with Borse Dubai
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Nasdaq to acquire OMX in deal with Borse Dubai

Nasdaq to acquire OMX in deal with Borse Dubai

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AP

Stockholm: Nasdaq Stock Market Inc. and Borse Dubai have reached a deal under which Nasdaq will take over Nordic bourse operator OMX AB, while Borse Dubai acquires just under 20% of Nasdaq and 28% of the London stock exchange.

The deal announced today would resolve a takeover battle between Nasdaq and Borse Dubai for Stockholm-based OMX. It is subject to approval by shareholders and regulators in Europe and the US.

Under the deal, Borse Dubai will go ahead with its $4 billion cash bid for OMX, but sell all shares in the Stockholm-based company to Nasdaq.

In exchange, Nasdaq will pay Dubai $1.72 billion in cash and give it a 1.99% stake in Nasdaq the companies said.

In addition, Dubai would acquire a 28% stake in the London Stock Exchange from Nasdaq.

“Taken together, these strategic actions will provide us with a footprint unlike any other exchange, creating a global exchange leader, with operations in key markets around the world," Nasdaq chief executive Bob Greifeld said in a statement.

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Published: 20 Sep 2007, 02:56 PM IST
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