23 October 2017
visit www.avoka.com

Dubai ready to scupper Nasdaq takeover of OMX - Daily Telegraph

16 July 2007  |  7235 views  |  0 OMX

Shares in OMX have moved up four per cent on rumours that the owner of the Dubai stock exchange is preparing to scupper Nasdaq's attempted take-over of the Swedish bourse and technology company with a rival counter-bid.

OMX shares are up to 217.50 in early trading after a report in the UK's Daily Telegraph newspaper said the Dubai International Financial Centre (DIFC) is ready to step in with a bid of up to Skr250 per OMX share, beating the proposed Skr208.1 bid by Nasdaq.

The Telegraph states that DIFC has the funding to escalate its bid, but is likely to table an initial offer of around Skr230.

The DIFC has reputedly been buying OMX shares in the open market, amassing a stake just below the five per cent level at which a buyer must disclose ownership, the newspaper claims.

Rumours of a potential counter-bid for OMX from Dubai first surfaced in late May, shortly after Nasdaq announced its proposed takeover. The rumours were helped by the fact that Per Larsson, former president of OM Group, is now the CEO of the Dubai International Financial Exchange (DIFX).

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Swedish government to probe Nasdaq/OMX merger

Swedish government to probe Nasdaq/OMX merger

27 June 2007  |  7303 views  |  0 comments
OMX set to land Turquoise technology contract

OMX set to land Turquoise technology contract

25 June 2007  |  10027 views  |  0 comments
Dubai group mulling counter bid for OMX - reports

Dubai group mulling counter bid for OMX - reports

29 May 2007  |  5634 views  |  0 comments
Nasdaq bids for OMX

Nasdaq bids for OMX

25 May 2007  |  8936 views  |  0 comments
OMX suspends shares amid frenzied bid talk

OMX suspends shares amid frenzied bid talk

24 May 2007  |  4359 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
15650 views comments | 17 tweets | 30 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13671 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10057 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9960 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8955 views comments | 9 tweets | 18 linkedin

Featured job

circa £250K total package
London

Find your next job