UK Regulator Says to Probe Nasdaq’s Deal to buy Sweden’s Cinnober
Posted: Thu Nov 22, 2018 3:48 pm
Exchange operator Nasdaq’s $190 million proposed acquisition of Swedish financial technology provider Cinnober faces an in-depth antitrust probe by UK authorities. Britain’s Competition and Markets watchdog on Friday said it had opened an investigation into the deal to assess whether the buyout would significantly reduce competition in the sector.
With the Cinnober’s board already recommending the all-cash offer, the deal is set to close as early as securing the regulatory approval. It would also take out one of Nasdaq’s rivals in the market for trading systems, clearing and surveillance tech.
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