The Nasdaq Stock Market Inc. announced yesterday that it intends to support the London Stock Exchange plc’s proposed merger with the Borsa Italiana SpA.

Following a board meeting yesterday, Nasdaq said it has decided to vote in favour of the resolutions that are to be put to the LSE’s meeting on August 8. The resolutions will enable the LSE to complete its proposed merger with Borsa Italiana.

“After evaluating the transaction, and meeting with the senior management of both the LSE and Borsa Italiana, The board and management of Nasdaq concluded that it is an appropriate transaction for the LSE,” Nasdaq said in a release.