Heyman takes LSE stake to 10.07 pct UPDATE |
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Wed, 10 Jan 2007 17:33
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(adds background)LONDON (AFX) - US corporate raider Samuel Heyman has increased his stake in takeover target the London Stock Exchange PLC (LSE) to 10.07 pct, up from 10.03 pct yesterday, according to a statement issued by his investment vehicles.Heyman has built up his stake in the LSE since it received a hostile 1,243 pence per share offer from rival exchange operator Nasdaq.According to a report in today's Daily Telegraph newspaper, taking his stake above the 10 pct mark entitles Heyman to call an extraordinary general meeting to force the LSE board into opening talks with Nasdaq.Nasdaq has previously said it would only increase its offer if it receives the backing of the LSE board.LSE shares were up 4 pence at 1,284 by 3.55 pm, valuing the group at about 2.7 bln stg.newsdesk@afxnews.commn/slm/mn/slmCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Heyman takes LSE stake above 10 pct mark, may force Nasdaq talks - report 