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|NASDAQ Launches Hostile Bid for the London Stock Exchange|
- US exchange offers UKP2.7 billion for equities market
NASDAQ has launched a UKP2.7 billion hostile bid for the London Stock Exchange.
The US exchange has been stalking its London rival for several months now. The latest move gives shareholders until 11 January 2007 to accept its offer of UKP12.43 per share.
Ed Balls, Treasury Minister, said Monday that the Government will not veto Nasdaq's take-over attempt.
The London Stock Exchange is one of the world’s oldest stock markets and can trace its history back more than 300 years. Originating in the coffee houses of 17th century London, the Exchange rapidly grew to become the City’s senior financial institution.
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