This excerpt taken from the NDAQ 8-K filed Sep 26, 2007.
Item 2.01 Completion of Acquisition or Disposition of Assets.
Pursuant to a separate agreement, Nasdaq has sold holdings representing 28% of the share capital of the London Stock Exchange Group plc (LSE) to Borse Dubai for approximately $1.6 billion and has sold the substantial balance of its holdings in LSE in open market transactions for approximately $190 million. As a result of these transactions, Nasdaq holds only a de minimus number of LSE shares.
The sale of LSE shares to Borse Dubai was completed on September 25, 2007, with the sale of the substantial balance of Nasdaqs LSE holdings completed on September 26, 2007.
This excerpt taken from the NDAQ 8-K filed Apr 19, 2006.
Item 2.01. Completion of Acquisition or Disposition of Assets.
On April 18, 2006, Nightingale Acquisition Limited, a private limited company formed under the laws of England and Wales and a wholly-owned subsidiary of The Nasdaq Stock Market, Inc., completed its previously announced purchase of 38,100,000 shares, or 14.87%, of the issued share capital of the London Stock Exchange plc at a price of 1,175 pence per share. The total consideration represents approximately GBP 447.7 million, or approximately $784.8 million, based on an average exchange rate of 1.75298 U.S. Dollars per British Pound. Nasdaq purchased approximately 35,404,265 of the LSE shares from Threadneedle Asset Management Limited, with the balance of the shares being purchased from another LSE shareholder.
To finance the share purchase, Nasdaq entered into a credit facility with affiliates of Bank of America, which became effective on April 18, 2006. The terms and conditions of the Bank of America credit facility are described in Nasdaqs Form 8-K, filed on April 17, 2006, and that description is incorporated herein by reference.
In addition, on April 18, 2006, Nasdaq used the Bank of America credit facility to refinance Nasdaqs credit facility established on December 8, 2005. Upon terminating the December 2005 credit facility, Nasdaq paid the lenders under the facility approximately $753 million, in full repayment of principal and accrued interest under the facility. The terms and conditions of the December 2005 credit facility are described in Nasdaqs Form 8-K, filed on December 14, 2005, and in Nasdaqs Form 10-K, filed on March 15, 2006, and those descriptions are incorporated herein by reference.
We currently have outstanding approximately $1.5 billion of borrowings under our Bank of America credit facility.
Pursuant to the requirements of the Securities Exchange Act of 1934, Nasdaq has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.