Bid speculation fuels OMX share hike

Shares in OMX shot up on Monday morning following speculation that Borse Dubai may be ready to raise its takeover bid to 300 kronor per share.

According to the Sunday Times, Borse Dubai has secured financing that would enable it to increase its bid from 230 to 300 kronor per share. At 10.35am, OMX’s share price had gone up 3.3 percent to 247.50 kronor.

There are also rumours that the Dubai exchange may be willing to buy Nasdaq’s 31 percent stake in the London Stock Exchange (LSE). In exchange, Borse Dubai would drop its offer for OMX.

It has also been suggested that OMX and Nasdaq could form an alliance and table a joint bid for the Nordic exchange operator.