Summit Notebook

How to gum up an exchange merger: salt water

May 13, 2009

It’s a puzzle M&A bankers and corporate executives have been trying to solve for years: how far from your home market can an acquisition take place and ultimately stumble over cultural differences? It’s a question that looms large as quintessentially Italian automaker Fiat prepares to swallow up Chrysler – inventor of the K-car and the minivan – and which reportedly haunts St Louis-based employees of Anheuser Busch in the aftermath of their company’s takeover by the penny pinching Belgians and Brazilians at InBev.

Being public ain’t all it’s cracked up to be

May 12, 2009

IPOs can be very tempting for exchanges, allowing members big payouts and giving the exchanges more financial flexibility to take on new markets.

Nasdaq president to finance companies: come hither

May 12, 2009

A fertile planting ground for tech, biotech and even some energy offerings, Nasdaq OMX has historically struggled to lure listings in some other areas, notably financial services.

CME has no European designs

May 11, 2009

The exchanges industry has seen countless trans-Atlantic mergers in the past few years, from the New York Stock Exchange combining with Euronext, and Nasdaq buying up Nordic exchange operator OMX, to Deutsche Boerse’e Eurex snagging the International Securities Exchange.