Longtime trader Art Cashin believes Wednesday's across-the-board rally could be the one to end the selloff in momentum stocks.» Read More
The Nasdaq Stock Market failed for the second time in a year to win control of the London Stock Exchange , revealing Saturday that its $5.3 billion hostile bid had been spurned by the British bourse's shareholders.
The London Stock Exchange reiterated its opposition to a hostile bid from Nasdaq Stock Market Inc on Monday, noting that valuations of trading exchanges had risen since its U.S. rival launched its bid.
Nasdaq, which owns almost 30% of the LSE and is offering $5.3 billion (2.7 billion pounds) in total, earlier set its own deadline of Jan. 27 for LSE investors to accept the offer.
The London Stock Exchange unveiled plans to return as much as another 250 million pounds ($492 million) to investors as it seeks to persuade them to reject a hostile offer from U.S. rival Nasdaq.
Nasdaq Stock Market said on Monday that imminent third-quarter figures from the London Stock Exchange would not affect its 2.7 billion pound ($5.2 billion) hostile bid for the British exchange.
Euronext shareholders onTuesday approved a $14-billion plan to merge the multinational European exchange operator with the New York Stock Exchange and form the first transatlantic bourse.
London Stock Exchange on Tuesday urged its shareholders to reject a hostile takeover bid by the Nasdaq Stock Market Inc., saying the offer was "wholly inadequate."
Stocks closed mostly lower amid higher oil prices and a surprising decline in Midwest business activity.