Nasdaq amends debt financing commitment
October 6, 2007 - 0:0
NEW YORK (Reuters) -- The Nasdaq Stock Market Inc. (NDAQ.O) said it amended its debt financing commitment after raising its bid for Nordic markets operator OMX AB (OMX.ST).
The amended commitment with Bank of America Corp. (BAC.N) and JPMorgan Chase & Co. (JPM.N) increases the total amount available to 2.2 billion dollars.Previously, it was 1.9 billion dollars, said a Nasdaq spokeswoman.
Last month, Nasdaq and the state-owned Borse Dubai boosted an offer for OMX by 15 percent to 4.9 billion dollars, aiming to muscle out potential rival bidders.
Nasdaq and Dubai initially stuck a complicated deal as part of which the Middle Eastern company would sell its OMX shares to Nasdaq for a 20 percent stake in the U.S. exchange.
Dubai's rival Qatar then began acquiring OMX shares, buying up nearly 10 percent.
Nasdaq and Dubai then sweetened their offer and Nasdaq agreed to increase the cash component in its amended agreement with Dubai.