And so it has come to this: The Nasdaq gave LSE investors a deadline. They have until Thursday to accept its $5.3 billion offer. The U.S. exchange will not boost its offer, as some hedge funds have hoped. It is not clear what the Nasdaq will do if it does not sway shareholders. The LSE certainly seems to be digging in its heels, calling the Nasdaq message a lot of "bluster." The Nasdaq, which already owns nearly a 29 percent stake in the LSE, might be forced to sell shares. Or, it said, it might join a group of banks that are putting together a competitor to the LSE. Not sure how that would fly. In any case, it looks like the battle is finally heading toward a resolution. Meanwhile, the NYSE brass must be smiling.

For more:
- here's an update from the AP