The Age – US TECHNOLOGY exchange Nasdaq will focus its persuasive efforts on a clutch of hedge funds to win the battle to control the London Stock Exchange.<\/p>\n
Hedge fund investors in the LSE control 30-35 per cent of the LSE’s equity, which, added to Nasdaq’s 28.75 per cent stake, would be enough to seal majority control.<\/p>\n
Nasdaq chief executive Bob Greifeld’s efforts will now be focused on meeting the LSE’s hedge fund investors.<\/p>\n
The push to convince the hedge funds to sell to Nasdaq at \u00c3\u201a\u00c2\u00a312.43 a share ($A31), follows publication of the American exchange’s offer document.<\/p>\n
The hedge funds will play a crucial role in deciding the LSE’s fate after Nasdaq used the publication of its 301-page offer document to reduce the takeover threshold for acceptances from 90 per cent of the LSE’s equity to 50 per cent plus one share.<\/p>\n