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Streetwise

News and analysis on Bay Street and the world of finance
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The sign outside the NASDAQ Market site is seen in this Aug. 19, 2004 file photo taken in New York. The Wall Street Journal reported on its website late Friday Feb. 4, 2011 that federal investigators are trying to identify the hackers that penetrated the market's computer network multiple times during the past year. (Kathy Willens/AP/Kathy Willens/AP)
The sign outside the NASDAQ Market site is seen in this Aug. 19, 2004 file photo taken in New York. The Wall Street Journal reported on its website late Friday Feb. 4, 2011 that federal investigators are trying to identify the hackers that penetrated the market's computer network multiple times during the past year. (Kathy Willens/AP/Kathy Willens/AP)

Streetwise

Morning Meeting: The Nasdaq Factor Add to ...

A look at some must-read news on deals and deal makers around the world

















Nasdaq looks at LSE alliance, Times says

Nasdaq, which is facing a tough slate of options as rivals merge, is still looking at a bid for NYSE Euronext. But it's also considering trying to do something with London Stock Exchange Group Plc, which is planning to combine with TMX Group Inc., the New York Times DealBook reports.



Nasdaq's boss is hemmed in in some ways by his reputation as a cost-cutter, which those who know him say means he won't do a deal that doesn't immediately add to earnings. That limits the options. Bloomberg takes a look at Nasdaq CEO Bob Greifeld and his reputation for chopping expenses.







LSE and TMX -- does the 55-45 split reflect reality?

One of the big questions some people, from policy makers to bankers, have had is why doesn't TMX Group Inc. buy LSE Group PLC. The reasons are pretty clear when you look at the numbers. The LSE is strikingly larger in almost every respect, and the growth rates of the two aren't markedly different, so it's not like TMX is going to close the gap any time soon. That's the topic of this week's Streetwise column in the printed version of the newspaper.

So if TMX can't buy LSE, what could it buy? Some opponents to the deal are apparently floating the idea that instead of doing the transaction with LSE, TMX could instead do something like roll up the exchanges in the Americas that remain independent, such as those in Mexico and Colombia, in hopes of becoming a bigger entity that could then buy the LSE.

It's an interesting idea, but challenging. There's no sign that those exchanges are willing sellers, or any reason to believe that the London deal would be on the table months or years from now. Then again, for opponents of the deal such as Toronto-Dominion Bank, maybe that's the point.



Was Libor manipulated?

During the financial crisis, the sleepy world of overnight interest rates was suddenly the focus of almost everybody's attention. Now, regulators are apparently investigating whether UBS AG manipulated that trading, Bloomberg News says.







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