Nasdaq's battle for the LSE takes a twist
We all knew that hedge funds are pretty big holders of London Stock Exchange stock, and thus they are the target of some pretty heavy duty communications efforts by both sides. The latest twist is that none other than Samuel Heyman has become the LSE's second largest shareholder, having boosted his stake to more than 10 percent. Heyman's hedge fund snapped up 162,000 shares recently at a 3 percent premium to the value of the offer by the Nasdaq. Unsurprisingly, the LSE has seized on this as evidence that the Nasdaq's bid lowballs the company. We'll see what happens. But it seems that the LSE is pretty convinced it can defend itself.
For more:
- here's an update from Financial News
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