NASDAQ and OMX have agreed about merge
Scandinavian exchange operator OMX AB and American exchange operator NASDAQ Stock Market Inc. have informed on the reached arrangement on merge. The sum of the transaction makes 3,7 billion dollars. Such information is represented in the joint press release of the companies.
The transaction will be carried out by cash and in shares. During it OMX shareholders will receive 0,502 actions NASDAQ plus 94,3 Swedish crones (13,8 dollars) for each share that is on 19 % above the price for 1 OMX share at the moment of closing the share tenders in Stockholm on May, 23rd, 2007.
Capitalization of the incorporated group which will receive name NASDAQ OMX Group, will make 7,1 billion dollars. Shareholders of the American company will receive about 72 % of actions of the new company and shareholders of the Swedish company - 28 %. NASDAQ Chapter will head the incorporated company, and OMX Chapter will become its assistant.
NASDAQ is the second-largest exchange operator of the USA, specializing on the hi-tech shares trade companies, working since 1971. Capitalization of the companies, having listing at a stock exchange, makes 3,6 billion dollars.
OMX is the owner and the operator of stock exchanges in Stockholm, Helsinki, Copenhagen and other Baltic countries. The Swedish government - is the second-largest OMX shareholder after investment firm Investor - has earlier informed on intention to sell 6,6 % of actions of the company belonging to it within the limits of the country of the program of the largest in the history privatization.
Let’s remind, in the end 2006, NASDAQ has made an attempt to hostile absorption of the London stock exchange (LSE) for 2,7 billion pounds sterling (5,3 billion dollars), having addressed directly to shareholders after reception of refusal of a management of the British company. However, attempt has not crowned with success. LSE’s board of directors has regarded the offer on purchase as much underestimated and not reflecting a unique strategic role and prospects of the company.
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