LSE set for Tokyo tie-up after fighting off Nasdaq bid
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The London Stock Exchange, fresh from fending off a takeover from US rival Nasdaq, has said that an agreement would be reached &quot;in the near future&quot; on a strategic alliance with its Tokyo counterpart.
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Tokyo stocks will probably move little on Thursday amid worries over higher oil prices and their possible impact on global economies, but the market will be supported by bargain hunting following recent sharp losses.
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Deutsche Boerse turned up the heat in the long-running battle for the London Stock Exchange, saying it would talk directly with the LSE's shareholders and users after the London market's management rejected Frankfurt's 1.3-billion-pound takeover bid as insufficient.
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The London Stock Exchange  may  now seek alliances with other bourses, such as Tokyo, after the  failure of Nasdaq Stock Market's  2.7-billion-pound  ($5.3 billion) hostile bid.
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The Nasdaq Stock Market faces the task of rebuilding its foreign expansion strategy after the emphatic rejection this weekend of its second unwelcome bid to acquire the London Stock Exchange.
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The London Stock Exchange  forecast a big rise in third-quarter earnings and pledged to raise its full-year dividend at least 50 percent on Tuesday as it reiterated its opposition to a 2.7-billion-pound ($5.3 billion) bid from U.S. rival Nasdaq .
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Pan-European group Euronext is poised to launch a bid for the London Stock Exchange, UK media reports say. Last week, the LSE rejected a takeover proposal from German rival Deutsche Boerse - the 530 pence-a
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Tokyo stocks are expected to stick to a  narrow range this week as investors focus on a flood of U.S.  earnings, soaring oil prices and the race for the White House.
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(InfoWorld) - The Nasdaq Stock Market's efforts to buy the London Stock Exchange PLC is another milestone in globalization, and touches the world of IT. As exchanges merge and increase the fluidity of funds globally, a new world of competitive options open. The Nasdaq's latest bid, launched Nov. 20, to buy the part of the LSE it doesn't already own for Â£2.7 billion ($5.1 billion) is poignant in its historic and political overtones. The Nasdaq tapped technology to match buyers and sellers -- starting with simple bulletin boards -- and helped revolutionize trading over the last 20 years. As world class IT companies like Microsoft and Oracle went public on the Nasdaq, the exchange rode the computerization of modern life to great success. Most exchanges have adopted some form of electronic trading, including Nasdaq archrival the New York Stock Exchange (NYSE Group Inc.) and the LSE itself. Exchanges have unique advantages and retain distinct personalities, however. Linux vendor Red Hat Inc., for example, will move from the Nasdaq to the NYSE Tuesday. "The New York Stock Exchange has much stronger global recognition, and we're looking for a global branding image," said Linda Brewton, Red Hat manager of investor relations. She also noted that even though the NYSE has adopted electronic trading, trading is still done under live market specialists and that this reduces share-price volatility. The LSE, which traces its history back some 300 years, has rejected Nasdaq's bid, claiming it undervalues the exchange. The mercurial mayor of London, Ken Livingstone, is also on the case. Last week he asked the U.K.'s Office of Fair Trading to investigate, claiming that the acquisition would eliminate competition to U.S. markets for international company listings. Livingstone also echoed the concerns of many Europeans, that as U.S. exchanges merge with European markets, tighter U.S. regulations would hamper Europe's growing market competitiveness. This last issue has also caused bumps in the NYSE's deal to merge with the Euronext NV exchange. Nasdaq, having already bought about 29 percent of the LSE earlier this year, is appealing to shareholders. Nasdaq Chief Executive Officer Robert Greifield apparently believes the exchange needs the merger to compete. The merging of exchanges and the broader, growing numbers of mergers and acquisitions that IT companies are involved in are part of the same phenomenon, according to according to Eric Gebaide, managing director of Innovation Advisors, a New York investment firm. "It's a manifestation of the globalization of financial markets," Gebaide said. "That in turn is a precursor of the globalization of technology." When companies in Europe and Asia enjoy the same sort of availability of capital U.S. companies have, it can lead to greater competition for U.S. companies. However, U.S. companies can also take advantage of the new era of capital. For example, U.S. companies looking to efficiently use capital now have access to alternative local financing for offshore ventures, Gebaide notes. In the new global market, companies can even go public with offshore ventures, he suggests. The Nasdaq bid will probably play out into 2007. The offer to shareholders can be extended to 60 days, and the Nasdaq can still buy LSE shares on the open market. But no matter how it ends, the internationalization of capital markets will continue to have a profound impact.
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The battle for Japanese beer maker Sapporo Holdings , which faces a takeover bid by U.S. hedge fund Steel Partners, fizzed on Friday with newspapers reporting that bigger rivals Asahi Breweries Ltd.  or Kirin Brewery  may integrate Sapporo.
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The London Stock Exchange is planning to have a takeover deal in place by the end of January, reports say.
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NEW YORK -- The New York Stock Exchange and Tokyo Stock Exchange announced an alliance Wednesday that extends the NYSE's global reach and could point the world's two largest financial markets toward an eventual combination.
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The Nasdaq Stock Market Inc.  would consider working with a group of investment banks behind a rival trading platform if its bid for the London Stock Exchange  fails, Chief Executive Bob Greifeld told three British newspapers.
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The Tokyo Stock Exchange  and the  Chicago Mercantile Exchange (CME)  will begin talks on a  possible business tie-up, the Nikkei business daily reported in  its evening edition on Thursday.
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PARIS/LONDON: Euronext has made an approach to the London Stock Exchange (LSE), marking the first salvo in a possible bidding war between Paris and Frankfurt for control of Europeâs largest equity market.
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Nasdaq  launched its 2.7 billion pound ($5.3 billion) hostile bid for the London Stock Exchange  on Tuesday and will need just over a fifth of LSE shareholders to accept for it to take control of the bourse.
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Nasdaq, the US firm which tried to buy the London Stock Exchange, offers to take over a Swedish rival for $3.7bn.