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Your MONEY: Nasdaq pounds 2.7bn LSE bid.

Byline: Edited by CLINTON MANNING

THE London Stock Exchange was the target of a surprise pounds 2.7billion takeover bid yesterday.

Nasdaq, the US market for hi-tech stocks, bought seven million shares in the London business for pounds 88million, raising its stake to nearly 29 per cent.

It is the fifth bid to buy the LSE in the past two years.

LSE boss Clara Furse has already seen off Deutsche Borse, Macquarie Bank, Euronext, and rejected a pounds 2.4billion offer by Nasdaq in May.

And she threw out Nasdaq's new bid, despite standing to pocket pounds 14m if the deal went ahead.

Nasdaq said the merged exchanges would list more than 6,400 firms worth a total of pounds 6.3trillion.

Between them they handle daily share trades worth more than pounds 40billion.

Shares in the LSE soared more than six per cent.


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Title Annotation:Business
Publication:The Mirror (London, England)
Date:Nov 21, 2006
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