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Osaka Exchange to make bid for Jasdaq in July: report

HONG KONG (MarketWatch) — Osaka Securities Exchange Co. is expected to launch a takeover bid for Jasdaq Securities Exchange Inc. in July, once the two groups have worked out a way to merge their computer systems and a valuation of Jasdaq’s assets is complete, the Nikkei newspaper reported Wednesday. The report, which did not cite its sources, said Osaka Securities will make a tender offer after hammering out an acceptable price with Jasdaq shareholder Japan Securities Dealers Association. Although Jasdaq’s board rejected a proposal to merge the two exchange’s computer systems March 24, resistance to the integration is softening following changes to the composition of the board and support for the deal from Jasdaq President Takashi Tsutsui, the report said.
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Original post by Forextvblog

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