It seems Nasdaq is still pursuing the London Stock Exchange, which twice thwarted its takeover attempts. But now that the New York exchange operator has a Middle East sugar daddy, might the LSE’s bachelorette days be numbered?

According to The Observer, Nasdaq’s three-way deal with Borse Dubai, in which the two groups swap stakes in each other and buy Nordic markets operator OMX, may be its latest effort to get its hands on the LSE — especially since the buyer of most of Nasdaq’s LSE stake is none other than Dubai.

The paper said Nasdaq and Dubai are hatching a plan to launch a hostile takeover bid for LSE in February when Nasdaq is allowed to bid for a third time under U.K. rules. This would entice LSE into a pan-continental alliance with the goal of taking on transatlantic exchanges behemoth NYSE Euronext. London would have a dominant position in the new company, according to the plan.

Now, the LSE — which has its own predatory ambitions — has rejected several suitors in the past three years on the grounds that it was worth more than what the buyers were offering.

Will the lure of more money (courtesy of Dubai) throw LSE into Nasdaq’s waiting arms? Or will Dubai’s rival Qatar, which also bought an LSE stake, sabotage the plot?

Watch this space for more on the story of unrequited M&A love.

Photo: Nasdaq CEO Bob Greifeld (Reuters File)