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Borse Dubai Secures $3.5 Billion to Fund OMX Bid

Reuters
Thursday, 30 Aug 2007 | 10:02 AM ET

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.

The funding is enough to finance an offer of as much as 300 crowns per share for Stockholm-based OMX, about 30% more than the 230 crowns per share the Gulf Arab stock exchange company has offered so far, said the person, who did not want to be identified.

HSBC Holdings has been advising the state-owned bourse on its bid.

A Swedish economic crimes unit said on Wednesday it was considering an investigation into Borse Dubai's $4 billion takeover offer for OMX, and would decide within days whether to proceed.

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