In making the announcement, NASDAQ stated its belief that its current stock price does not adequately reflect the value of its stake in the LSE. NASDAQ will use approximately $1 billion of proceeds from any sale to retire senior term debt and intends to use the remainder to repurchase shares. NASDAQ estimates that selling the stake would increase its stand-alone earnings per share for 2008 by approximately $0.30 to $0.35.
There can be no assurance that the exploration of sale alternatives for the stake will result in any transaction. NASDAQ undertakes no obligation to make any further announcements regarding the exploration of sale alternatives. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire any shares in the capital of London Stock Exchange Group plc or NASDAQ.
The Nasdaq Stock Market, Inc. (NASDAQ) confirms that the review of alternatives to divest its approximately 31% stake in the London Stock Exchange Group plc ("LSE") announced earlier today would not involve a sale by NASDAQ to any single purchaser (or to persons known to NASDAQ to be acting in concert in connection with the purchase) of an interest in shares carrying 30% or more of the voting rights of LSE. -NASDAQ
