The Nasdaq Stock Market Inc. has withdrawn its US$4.2 billion takeover offer for the London Stock Exchange, without giving an explanation.
Back on March 10, Nasdaq announced that it had submitted an indicative offer proposal to the LSE. Today, Nasdaq announced that it no longer intends to make an offer for the exchange.
However, in its announcement, NASDAQ indicated that it reserved the right, under certain circumstances, to announce an offer or possible offer or make and participate in an offer or possible offer for the LSE.
Those circumstances include: a friendly deal with the LSE, a competing bid from a third party, or other significant changes.
Nasdaq drops US$4.2 billion offer for LSE
- By: James Langton
- March 30, 2006 March 30, 2006
- 09:20