NASDAQ OMX Group
From Wikipedia, the free encyclopedia
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| Type | Public (NASDAQ: NDAQ) |
|---|---|
| Founded | 1971 |
| Headquarters |  New York, United States |
| Key people | Robert Greifeld, CEO[1] Magnus Böcker, President David P. Warren, CFO Anna M. Ewing, CIO |
| Industry | Stock exchange |
| Market cap | USD 6.7 billion[2] |
| Revenue | USD 1.66 billion (2006) |
| Net income | USD 128 million (2006) |
| Employees | 898 |
| Subsidiaries | NASDAQ, OMX |
| Website | www.nasdaqomx.com |
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NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) is an United States public company that owns and operates the NASDAQ stock market and 7 European stock exchanges in the Nordic and Baltic regions under the OMX banner. It is headquartered in New York City, and its Chief Executive Officer is Robert Greifeld.
[edit] Merger attempt with London Stock Exchange
In December 2005, the London Stock Exchange (LSE) rejected a £1.6 billion takeover offer from Macquarie Bank. The LSE described the offer as "derisory." It then received a bid in March 2006 for £2.4 billion from NASDAQ, which was also rejected by the LSE. NASDAQ later pulled its bid, and less than two weeks later on April 11, 2006, struck a deal with LSE's largest shareholder, Ameriprise Financial's Threadneedle Asset Management unit, to acquire all of that firm's stake, consisting of 35.4 million shares, at £11.75 per share.[3] NASDAQ also purchased 2.69 million additional shares, resulting in a total stake of 15%. While the seller of those shares was undisclosed, it occurred simultaneously with a sale by Scottish Widows of 2.69 million shares.[4] The move was seen as an effort to force LSE to negotiate either a partnership or eventual merger, as well as to block other suitors such as NYSE Group, owner of the New York Stock Exchange.[5]
Subsequent purchases increased NASDAQ's stake to 29%, holding off competing bids for several months. However only a further 0.4% of shareholders accepted the offer by the deadline and therefore the offer was rejected [6] on February 10, 2007.
[edit] Philadelphia Exchange Talks
As of April 11, 2007, The Philadelphia Stock Exchange is in talks with possible buyers, include Nasdaq Stock Market, Inc. (NDAQ)[7]
[edit] NASDAQ buys OMX
On May 25, 2007 NASDAQ agreed to buy the Swedish-Finnish financial company that controls 7 Nordic and Baltic stock exchanges OMX for USD 3.7 billion to form NASDAQ OMX Group. [8] As of February 27, 2008, the deal has just been completed.
[edit] Additional Services
[edit] DirectorsDesk.com
On June 29, 2007, NASDAQ entered into an agreement to acquire DirectorsDesk.com a management suite for Boards of Directors.[9]
[edit] References
- ^ "FACTSHEET 2007", NASDAQ Newsroom, The Nasdaq OMX group, 2007, http://www.nasdaq.com/about/Corp_FS_2007.pdf, retrieved on 29 May 2007.
- ^ "Company Profile for NASDAQ OMX Group Inc (NDAQ)", http://www.zenobank.com/index.php?symbol=NDAQ&page=quotesearch, retrieved on 22 October 2008.
- ^ Patrick, M.; Lucchetti, A., Reilly, D., Taylor, E. (2006-04-11). "Nasdaq Acquires 15% of LSE", The Wall Street Journal.
- ^ "Scottish Widows says has sold 2.7 mln LSE shares at 1,175 pence", Forbes (2006-04-12).
- ^ Ortega, E. (2006-04-11). "Nasdaq Buys 15 Percent Stake in LSE for $782 Million", Bloomberg News.
- ^ "LSE woos Tokyo after US bid fails", BBC News (2007-02-11).
- ^ "Phila. Exchange looks at buyers, including Nasdaq", Reuters (2007-04-11).
- ^ "Nasdaq to buy Nordic bourse group OMX for $3.7 bln", Reuters (2007-05-25).
- ^ "Nasdaq to acquire Directors Desk, a Technology Company for Corporate Boards", primenewswire.com (2007-06-29).
