 The Nasdaq is one of many suitors to target the LSE in recent years |
The Nasdaq says it remains on target to buy the London Stock Exchange (LSE), despite speculation that the UK market is to rush-release upbeat 2006 results. According to reports, the LSE is to publish its figures this week - three weeks early - as part of its defence against the Nasdaq's hostile bid.
Nasdaq, which is offering �2.7bn ($5.2bn), said big LSE shareholders were already selling their shares.
The LSE was not immediately available for comment.
'Various suitors'
New York-based Nasdaq added that its offer was in the best interests of the LSE.
It said that despite likely strong results from the LSE, the London exchange is "unprepared" for future challenges if it remains on its own.
LSE shares have more than trebled over the past two years as it has attracted - and rejected - a procession of suitors including pan-European market Euronext and Germany's Deutsche Boerse.
Nasdaq already owns 28.75% of the LSE, which is Europe's biggest stock market.
LSE shares were flat at 1280p in early Monday trading.
Nasdaq said the LSE's share price was likely to fall sharply if it rejects its offer.
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