Nasdaq, Borse Dubai set to merge, bid for OMX
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By Sven NordenstamSTOCKHOLM (Reuters) - U.S. share market Nasdaq and Borse Dubai are set to team up and buy OMX , ending a takeover battle for the Nordic markets operator and creating a major new force in the financial markets industry, sources close to the situation told Reuters.The sources, who asked not to be identified, did not cite specific terms of any deal.Two Swedish newspapers also said on Thursday that Nasdaq and state-run Borse Dubai were set to merge and take control of OMX, although a third newspaper said Borse Dubai would become a shareholder in a merger between Nasdaq and OMX.On Wednesday, the OMX surveillance department said shares in OMX were suspended and that information was due on Thursday. Sources say an announcement is due around 0700 GMT.Dagens Industri said Borse Dubai would first buy OMX and then it would merge with Nasdaq. It did not cite its sources.Dagens Nyheter, citing sources it did not name, said the U.S. and Dubai firms would form a holding company and it added that this meant Borse Dubai would not be raising its 230 crowns per share cash offer for OMX.Dagens Nyheter said it was not clear whether Nasdaq would sell its near 31 percent stake in the London Stock Exchange to Borse Dubai.A third newspaper, Svenska Dagbladet, however, said Borse Dubai would withdraw its bid for OMX and would become a major shareholder in a merger between Nasdaq and OMX.The Wall Street Journal on Wednesday cited people familiar with the matter as saying that Borse Dubai was the leading contender to buy Nasdaq's stake in the London Stock Exchange.
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