The Nasdaq Stock Market Inc. has bumped up its stake in the London Stock Exchange plc to 18.7%.

The exchange reported today that it has acquired a further 9,790,280 shares in the LSE for £12.18 per share. The consideration represents approximately £119.2 million (US$219.4 million).

In addition to the 38,100,000 shares acquired on April 11 for £11.75 per share, this acquisition takes Nasdaq’s holding in the LSE to 47,890,280 shares, or about 18.7% of the issued share capital of the LSE.

Toward the end of April, Nasdaq priced a new offering for US $691 million of common stock to help fund the initial acquisition of a 15% stake in the LSE.

The LSE earlier rebuffed a takeover offer at £9.50 per share.