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Sunday 25th May 2008
After being very publically rebuked only 18 months ago it seems that the NASDAQ may well be looking to put together another takeover offer for the London Stock Exchange (LSE). The LSE has been fire fighting offers and advances for the last couple of years but the recent fall in the share price has alerted the likes of the NASDAQ yet again. So what next?
Under Takeover Rules the NASDAQ was not able to bid again for the LSE until 12 months after their original bid lapsed, meaning from February this year they were free to approach the LSE again. The original offer of £12.50 was rejected by the LSE board but after the recent fall there are rumours they may come back with an offer in the region of £11.
While it is all very much up in the air at the moment, analysts feel that the NASDAQ would be highly unlikely to make an aggressive offer and more likely to approach the LSE board about an agreed merger. This would allow the LSE to suggest an offer at which they might be interested and retain some control into the future. Watch this space...... |
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