This excerpt taken from the NDAQ 8-K filed Dec 11, 2006.
Risks Relating to Our Proposed Acquisition of LSE.
On November 20, 2006, we announced the terms of offers to acquire all of the outstanding equity interests of LSE (other than shares currently owned by us) and we requested a meeting with LSEs chairman. Later that same day, LSE announced that its board was rejecting our offers and rejecting our request for a meeting. Especially, in the light of LSE boards rejection of our proposal, our successful acquisition of LSE is not assured. If successful, rationalizing and coordinating the operations of LSE and us will involve complex technological, operational and personnel-related challenges. This process will be time-consuming and expensive and may disrupt the business of the companies. Moreover, the time involved, the expense required and the disruption entailed may exceed our expectations.