For now, OMX is all Nasdaq has...
National boundaries are passé; even ‘companies’ apparently seem outdated
when it comes to M&As. If this still sounds strange, consider how Stockholm- based OMX stock exchange (with 791 companies listed & a daily turnover of $7.49 billion), the largest in Europe aft er Euronext & LSE is making matters worse between NYSE & Nasdaq. For Nasdaq, to watch NYSE walk away with the $14.3 billion Euronext only rubbed salt into its wound. Worse, despite having raised itd bid for LSE to $5.3 billion, its attempt for almost two years now has proved futile a big setback indeed!
National boundaries are passé; even ‘companies’ apparently seem outdated
when it comes to M&As. If this still sounds strange, consider how Stockholm- based OMX stock exchange (with 791 companies listed & a daily turnover of $7.49 billion), the largest in Europe aft er Euronext & LSE is making matters worse between NYSE & Nasdaq. For Nasdaq, to watch NYSE walk away with the $14.3 billion Euronext only rubbed salt into its wound. Worse, despite having raised itd bid for LSE to $5.3 billion, its attempt for almost two years now has proved futile a big setback indeed! But as they say – ‘some never learn’, Nasdaq is now eyeing OMX as H. Furlong Baldwin, Chairman, Nasdaq noted, “At Nasdaq, we are privileged to be partnering with such a reputable institution as the OMX…” Nasdaq also sold it 31% stake in LSE for $1.6 billion on August 20, 2007 as a proactive move as it knows that OMX will cost more than its May 2007 bid of $3.67 Billion – all thanks to Dubai Stock Exchange’s $4 billion bid for OMX.
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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