Nasdaq, Borse Dubai reach deal on OMX
STOCKHOLM (Reuters) - Nasdaq (NDAQ.O) and state-run Borse Dubai unveiled a deal on Thursday to join forces and acquire Sweden's OMX OMX.ST, ending a lengthy takeover battle for the Nordic exchange owner.
Under the complex agreement, Nasdaq will take Borse Dubai's stake in OMX, Borse Dubai will end up with a 20 percent stake in Nasdaq and will also buy Nasdaq's 28 percent holding in the London Stock Exchange (LSE.L).
Nasdaq would take a strategic stake in Dubai International Financial Exchange (DIFX), the firms added in a statement.
Borse Dubai will continue its 230 Swedish crown per share offer for OMX while Nasdaq will withdraw its cash-and-share bid under certain conditions.
NEW YORK - U.S. stocks fell more than 1 percent on Thursday, with the S&P 500 on track for its worst daily decline since April and first monthly drop since January, as concerns mounted over the strength of overseas economies and ongoing tensions with Russia.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.