This excerpt taken from the NDAQ 8-K filed Feb 20, 2008.
If we are unable to complete the acquisition of PHLX, or complete it on a timely basis, our business and operating results may be negatively impacted.
Completion of the PHLX acquisition is subject to, among other things, several conditions, including the absence of any injunction or legal restraint or prohibition preventing the consummation of the acquisition, favorable resolution of the appeal in the Delaware Supreme Court of the settlement of shareholder litigation brought against PHLX, there having been no material adverse change (as defined) to the business of PHLX and the receipt of SEC approvals. We cannot assure you that all of these conditions will be met in time (or are not otherwise waived by the applicable party) or that the planned acquisition will not otherwise be terminated. If the closing of the acquisition fails or is significantly delayed, our business and financial condition may be negatively impacted. Any delay in the completion of the transaction may diminish anticipated benefits or may result in additional transaction costs, loss of revenue or other effects associated with uncertainty about the completion of the PHLX acquisition.