Shareholders in the London Stock Exchange (LSE) yesterday backed the board's £510 million payout plan, as consolidation manoeuvring continued.The payout, originally proposed as an incentive for shareholders to oppose the abortive takeover bid by Australian bank Macquarie, will see shareholders receive shares in a new holding company equivalent to a 200p per share cash payout.The New York-based Nasdaq took a 15% stake in the LSE earlier this week, stealing a march on the New York Stock Exchange, its potential rival for a takeover of the London bourse.Meanwhile, the Dubai International Financial Centre has taken a more than 1% stake in LSE rival Euronext, an investment that met with approval from Euronext's board. The exact size and value of DIFC's stake has not been disclosed: a 1% stake would be worth €79.5 million at current prices. The exchange said the investment was part of its aim to become a "complement" to existing European, US and Asian bourses.
More on Exchanges
Chicago-based exchange targets China, India and LatAm growth
Stock exchange group has “excess cash”, says group CEO
Increased volatility will spur demand for risk management tools in Asia
Onshore derivative market is the focus for Osaka Securities Exchange
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.