New Nasdaq Tack On LSE May Hurt Hedge Funds

Dec 12 2006 | 9:58am ET

The Nasdaq Stock Market launched a hostile takeover of the London Stock Exchange this morning in a move that may burn hedge funds that have recently poured money into LSE shares.

With the $5.3 billion bid, Nasdaq is offering the same price per share it announced in January, and that the LSE rejected as too low. The New York-based Nasdaq says it will not raise its offer unless it is outbid or LSE allows a friendly approach.


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