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This excerpt taken from the NDAQ 10-Q filed Nov 7, 2008. Acquisition of Nord Pool On October 21, 2008, we completed our previously announced acquisition of Nord Pool’s clearing, international derivatives and consulting subsidiaries. The aggregate purchase price of NOK 2,182 million (approximately $325.0 million) consisted of NOK 1,725 million (approximately $257.0 million) in cash and NOK 457 million (approximately $68.0 million) in the form of a vendor note due to the current owners of Nord Pool within 18 months of closing. NASDAQ OMX may also be obligated to pay further earn-out payments of up to NOK 800 million (approximately $119.0 million), based on certain volume measurements over a five-year period. To finance the acquisition, we borrowed $300.0 million from a delayed draw term loan facility under our existing Credit Facilities. We plan to settle the remainder of the aggregate purchase price with cash on hand. The foregoing disclosure assumes an exchange rate of NOK 6.7131 to USD 1.00, which was the rate on October 21, 2008. As of September 30, 2008, we had an open foreign currency contract hedging our currency risk on the Nord Pool transaction. Upon closing of the Nord Pool transaction, we settled and closed out the currency contract and recorded a realized loss of approximately $33 million in the fourth quarter of 2008. |
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