JPMorgan ready to make peace in the exchange consolidation game

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JPMorgan is ready to love again after leaving Nasdaq when the US exchange suffered some anger management issues in its hostile bid for the London Stock Exchange last March. JPMorgan and Nasdaq are back together harassing foreign exchanges – trying to make the Scandinavian OMX dance for $3.7bn. Morgan Stanley, Credit Suisse and Swedish firm Lenner & Partners are advising OMX.
After the Nasdaq bid for the LSE was rejected, Nasdaq began accumulating LSE shares (a downward self-shame spiral). Nasdaq could not obtain enough shares (over 50%), or a positive enough self-image to cement control of the company, but became the LSE’s largest shareholder in the process, with over 29% of the company’s stock. JPMorgan backed out as Nasdaq’s advisor primarily because JPMorgan’s Cazenove divison is joint broker to the LSE.
Advisor reprises role after LSE conflicts [Financial News]

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