The Nasdaq Stock Market is likely to reassess its global strategy after its $3.7 billion bid for the London Stock Exchange was rejected by LSE shareholders over the weekend, analysts said. "Nasdaq will continue to pursue other opportunities," provided this represents value for shareholders, Robert Greifeld, Nasdaq CEO, said in a statement.
"While one commonly held sentiment is that Nasdaq should quickly unload the (LSE) stake, we believe Nasdaq wants to see where this bargaining chip takes it," said a note to clients from analyst Edward Ditmire at Fox-Pitt Kelton in New York, who has an "outperform" rating on the Nasdaq stock. "LSE is a coveted franchise, and Nasdaq is in a position to profit from an eventual sale. Of course, it also could relaunch its bid at some point down the line."