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.
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Australia, 12th - 13th Aug 2014
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