Deals
LSE Dropping TMX Puts Rolet on Collision Course With Nasdaq
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The biggest rally in three months for Nasdaq OMX Group Inc. may be the clearest sign yet that investors expect the New York-based exchange operator to buy London Stock Exchange Group Plc.
Nasdaq OMX gained 4.7 percent to $25.14 yesterday, climbing the most since April 1, after LSE dropped its offer for TMX Group Inc., saying too few shareholders supported the C$3.32 billion ($3.4 billion) merger. The gain in Nasdaq OMX was the largest since the day it announced a plan to buy NYSE Euronext with IntercontinentalExchange Inc., and signals speculation the company will expand with LSE, according to Capstone Holdings Group LLC and Aite Group LLC.