The Nasdaq Stock Market Inc. announced that it has bought a 15% stake in the London Stock Exchange plc, just two weeks after formally dropping its takeover offer.

Nasdaq reported that it has acquired 35,404,265 shares in the LSE from Threadneedle Asset Management Ltd., representing Threadneedle’s entire holding in the LSE. This, along with a further purchase of 2,695,735 shares, pushes Nasdaq’s holdings to 38,100,000 shares, or almost 15% of the issued share capital of the LSE.

On March 10, Nasdaq revealed that it had made an offer for the LSE; but it withdrew that offer on March 30. In its announcement, Nasdaq noted that it reserved the right, under certain circumstances, to make a further offer for the LSE.

The exchange paid a total of approximately £447.7 million (US$781.7 million) for the 15% stake. This represents about £11.75 per share, above the £9.50 per share it offered for the LSE back in March.