NASDAQ OMX Group

NASDAQ OMX Group
Nasdaq OMX Group, Inc.
Type Public (NASDAQNDAQ)
Industry Stock exchange
Founded 1971
Headquarters New York City, USA
Key people Robert Greifeld
(President) & (CEO)
Revenue increase $ 3.648 billion (2008)
Operating income increase $ 598.00 million (2008)
Net income decrease $ 319.88 million (2008)
Total assets increase $ 12.694 billion (2008)
Total equity increase $ 4.241 billion (2008)
Employees 2,507 - March 2009
Subsidiaries NASDAQ
OMX
Website NasdaqOMX.com

NASDAQ OMX Group, Inc. (NASDAQNDAQ) is a United States public company that owns and operates the NASDAQ stock market and eight European stock exchanges in Armenia plus the Nordic and Baltic regions under the OMX banner. It is headquartered in New York City, and its Chief Executive Officer is Robert Greifeld.

Contents

History

Merger attempt with London Stock Exchange

In December 2005, the London Stock Exchange Group (LSE) rejected a £1.6 billion takeover offer from Macquarie Bank. The LSE described the offer as "derisory." It then received a bid in March 2006 for £2.4 billion from NASDAQ, which was also rejected by the LSE. NASDAQ later pulled its bid, and less than two weeks later on April 11, 2006, struck a deal with LSE's largest shareholder, Ameriprise Financial's Threadneedle Asset Management unit, to acquire all of that firm's stake, consisting of 35.4 million shares, at £11.75 per share.[1] NASDAQ also purchased 2.69 million additional shares, resulting in a total stake of 15%. While the seller of those shares was undisclosed, it occurred simultaneously with a sale by Scottish Widows of 2.69 million shares.[2] The move was seen as an effort to force LSE to negotiate either a partnership or eventual merger, as well as to block other suitors such as NYSE Euronext, owner of the New York Stock Exchange.[3]

Subsequent purchases increased NASDAQ's stake to 29%, holding off competing bids for several months. However only a further 0.4% of shareholders accepted the offer by the deadline and therefore the offer was rejected [4] on February 10, 2007.

Boston and Philadelphia Exchanges purchase

On October 2, 2007 , NASDAQ purchased the Boston Stock Exchange. On November 7, NASDAQ announced an agreement to purchase the Philadelphia Stock Exchange.

OMX purchase

On May 25, 2007 NASDAQ agreed to buy the Swedish-Finnish financial company that controls 7 Nordic and Baltic stock exchanges OMX for USD 3.7 billion to form NASDAQ OMX Group.[5] As of February 27, 2008, the deal was completed.

Additional Services

DirectorsDesk.com

On June 29, 2007, NASDAQ entered into an agreement to acquire DirectorsDesk.com a management suite for Boards of Directors.[6]

Carpenter Moore

NASDAQ OMX sold its stake in the Carpenter Moore D&O Insurance in 2009.

GlobeNewswire

GlobeNewswire (previously PrimeNewswire) provides press release, editing and wire services

SMARTS Group

On July 27, 2010, NASDAQ OMX Group, Inc. has signed an agreement to acquire SMARTS Group, the world-leading technology provider of market surveillance solutions to exchanges, regulators and brokers.[7]

Market Data Group

Shareholder.com

References

External links

Portal icon New York City portal
Portal icon Companies portal

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