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Tuesday, 28 June 2016

Nasdaq both good and too good as LBO target

Taking public market private

Talks with Carlyle ended over valuation differences. A sum of the parts shows the U.S. bourse worth at least $7.5 bln, 50 pct more than its public market value. That lends itself to an LBO. But Nasdaq is already efficiently run, making it hard for buyout shops to find much juice.

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