/24-7PressRelease/ - LONDON, UK, January 11, 2007 - In an official statement released on Friday, Nasdaq has stated that no conclusive decision has been reached regarding the LSE stakes in the event of a failed bid. February 10 is the final date for acceptances by shareholders.
In December 2006, LSE urged shareholders to reject the 2.7 billion pound hostile bid from the U.S. based electronic stock market stating inadequate assessment of company value. The bidding war has heated up. January 27th is the last date for either side to announce new information regarding the bid.
UK takeover rules prevent Nasdaq from revising its offer. Unless LSE management recommends the bid, things don't look too good for Nasdaq. In fact, the company also sought to play down media speculation that it might be willing to up the offer. " Nasdaq's position remains as set out in the announcement on November 20, 2006," the U.S. exchange said.
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