Nasdaq's Reaction To LSE 2nd Response Document

The Board of The Nasdaq Stock Market, Inc. (“NASDAQ”) notes the publication of a new document (the “Circular”) by London Stock Exchange Group plc (“LSE”) earlier today.

NASDAQ would draw LSE Shareholders’ attention to the fact that LSE:

• fails to provide a long-term strategic vision;
• announces a marginal return of capital;
• shows renewed complacency with respect to Project Turquoise;
• on our analysis, fails to take adequate account of the impact of competition on future SETS volumes;
• fails to provide any new visibility on its cost base and deploys weak arguments on standalone value.

Accordingly, LSE fails to present any information which changes NASDAQ’s belief that without NASDAQ your LSE Shares would be worth far less.

Click here to download full Nasdaq reaction.