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 NEW YORK (AP) - The Nasdaq Stock Market Inc., having failed in its $5.3 billion hostile takeover bid for the London Stock Exchange, is now seen scrambling to lay out a European strategy that will appease its shareholders and ensure that it won't be left behind as other major exchanges consolidate.
The world's largest electronic equities exchange was dealt a crushing defeat Saturday by LSE shareholders who overwhelmingly opted not to accept the bid. The Nasdaq's dogged pursuit of the British bourse lasted almost a year and left Nasdaq empty-handed as rival operators NYSE Group Inc. and Euronext NV integrate into the first marketplace to span the Atlantic.
Analysts say Nasdaq CEO Robert Greifeld is now under intense pressure from investors to cut a deal that will keep his exchange competitive. Wall Street could get a glimpse at Greifeld's next move when he speaks to analysts after the Nasdaq reports third-quarter earnings Tuesday.
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