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Nasdaq acquires OMX Group for European footprint

 

25 May 2007   Category: Equity Market 3.0, Stock exchanges 1.0   No Comments comments

The process of stock exchange consolidation continues. See Stock exchange category for additional articles.

Nasdaq Agrees to Acquire Sweden’s OMX for 25.1 Billion Kronor, By Niklas Magnusson and Nandini Sukumar, Bloomberg, May 25 2007

Extract

“Nasdaq Stock Market Inc. agreed to buy Sweden’s OMX AB for 25.1 billion kronor ($3.7 billion) after failed attempts to acquire London Stock Exchange Plc left the U.S. company behind in the race to expand into Europe.

OMX gives Nasdaq Chief Executive Officer Robert Greifeld the European foothold he sought by offering to acquire the larger, more profitable LSE, and brings him closer to competing with NYSE Euronext for transatlantic stock listings and trading. The purchase also thrusts New York-based Nasdaq into the growing market for software to run securities exchanges. “

Addition information on OMX is available from the OMX web site.

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Copyright 2007 Open Networks Institute

 

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