Nasdaq bids for the London Stock Exchange

Nasdaq bids for the London Stock Exchange

U.S. stock exchange Nasdaq has now launched a 2.7-billion-pound bid for the London Stock Exchange.

Nasdaq has also strengthened its position by buying more shares in the market. They had already built up a 25-percent stake after a previous bid was rebuffed.

They are now offering 1,243 pence a share in cash for the rest of the company, which is the European region’s largest stock market.

In addition, Nasdaq also said that they have raised their stake in the company to 28.75 percent by buying a further 7 million LSE shares at 1,243 pence apiece.

Impressively, this new offer is 40 percent above its previous offer, which was launched in March this year. Nasdaq claimed that after the acquisition, they would become the world’s biggest exchange by number of listings. This would include as many as 6,400 companies with a market value of $11.8 trillion.