Borse Dubai has secured funding of as much as $5.3 billion to finance its takeover bid for Nordic stock exchange company OMX, a person familiar with the matter said.
Stocks are striking a sour note before the open, with market talk focused full force on the Fed.Traders are also watching a Fed report, due at 10 a.m. New York time on the amount of commercial paper outstanding. Second quarter GDP, released this morning, was revised to 4% from 3.4%.
Rumors abound that the NYSE, Euronext and Australia's ASX may be interested in buying part of the Nasdaq 's 31% stake in London Stock Exchange. The ASX has responded saying that this is pure speculation.
European stocks closed mixed in the afternoon session Monday, after European Central Bank President Jean-Claude Trichet kept the options open for euro-zone rate moves ahead of an ECB monetary policy meeting next week.
Singapore's Temasek Holdings is not interested in acquiring Nasdaq's stake in the Londons Stock Exchange, sources told Dow Jones Newswires, casting doubt on a previous Sunday Times report.
State-run Borse Dubai violated Swedish takeover law in the run-up to a bid for exchange owner OMX but no action against the group is planned, a Swedish regulator said on Thursday.
Nasdaq Chief Executive Bob Greifeld said Wednesday that shareholders in Nordic bourse operator OMX would benefit from a linkup with the U.S.-based exchange, enabling the combined company to expand its business with Russian and eastern European companies.
U.S. exchange Nasdaq said it was talking to key shareholders in OMX to persuade them to accept a share-only bid for the Nordic exchange operator and that some had agreed, the Financial Times reported on Tuesday.
U.S. stocks ended mixed but were well off the day's lows amid sustained credit market worries. "We're probably through the brunt of the volatility stage," said Keith Wirtz, chief investment officer at Fifth Third Asset Management.
Borse Dubai launched a $4 billion cash offer for Nordic exchange owner OMX on Friday, trumping an agreed deal with U.S. exchange Nasdaq, in a bid to create a group with global reach.
The Swedish Financial Supervisory Authority said Thursday it has sent more questions to Borse Dubai regarding its share and option purchase in Nordic stock exchange operator OMX last week.
A market crash, currency meltdowns, bubbles and war … Alan Greenspan weathered them all during his stint as Fed chief.
Shareholders in Borsa Italiana voted Wednesday in favor of a change in their rules necessary for a 1.63 billioneuros ($2.19 billion) takeover by the London Stock Exchange to go ahead.
Stocks ended a volatile week with a late selloff, erasing any hope for a quick recovery from last week's trouncing.
NYSE Euronext, the world's largest stock exchange, said Thursday that second-quarter profit more than doubled as the European exchanges contributed to earnings for the first time.
The Securities and Exchange Commission approved a plan to allow companies listed on the New York Stock Exchange to retain their three-letter ticker symbols should they transfer to rival Nasdaq Stock Market.
Sweden's government will review a proposed $3.7 billion takeover of Nordic bourses owner OMX by Nasdaq over worries companies could be forced to operate under U.S. stock market rules, an official said on Wednesday.
Stocks ended lower as investors were rattled by concerns regarded leveraged mortgage securities held by two Bear Stearns hedge funds. "We will see a splash near term as some of these funds need to unwind positions in paper that really isn't traded too much," said Jack Ablin of Harris Private Bank.
The London Stock Exchange is to buy its Italian counterpart for 1.6 billion euros ($2.15 billion), the two exchanges confirmed in a statement on Saturday, the latest step in a global nsolidation of exchanges.
Borsa Italiana has backed a 1.6 billion euro ($2.14 billion) takeover by the London Stock Exchange, said a person close to the situation, bringing closer a deal that could boost the LSE's own bid defenses.