Swedish technology company OM Group finally admitted defeat yesterday in its hostile bid for the London Stock Exchange, admitting that just 6.7 per cent of LSE shareholders had accepted its offer.
OM shook the City financial district of London in August when it launched its audacious offer for the 227-year-old London exchange, which repeatedly attacked the offer as "inadequate."
But despite increasing its bid for Europe's largest stock market to £1.06 billion sterling (€1.75 billion) and extending its offer deadline until last night, OM's offer attracted only a handful of LSE shareholders.
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