Swedish tehnology company OM Gruppen is leaving its bid for the London Stock Exchange unchanged, but extending the period of acceptance for the Offer to 10 November.
In its third document to LSE Shareholders, released today, OM emphasises the urgent need for change of ownership of LSE. OM believes that, without a fundamental reappraisal of strategy and significant technology investment at the London exchange, LSE will progressively lose its share of trading volumes to other more advanced, more efficient competitors.
Commenting, Per Larsson, president and chief executive officer of OM, says: "As time has gone by, the weaknesses in LSE's defence have become increasingly apparent...OM's offer closes on 10 November. It is now time for change."