US investor Samuel Heyman said today that entities he controls now had rights to an 8.8 per cent stake in the London Stock Exchange, in a move that could complicate a bid by Nasdaq Stock Markets.
Nasdaq is pressing ahead with a £2.7-billion-pound offer for Europe's largest share market, even though the LSE has rejected it as inadequate.
Heyman, a 1980s corporate raider, acquired the interest through derivative instruments.
Heyman Investment Associates Limited Partnership and Vesper Holdings LLC, both managed by Heyman, took interests on Monday in 2.66 million shares, paying as much as 1,290 pence a share, Heyman Investment Associates said in a statement.
Nasdaq, which already owns a 28.75 percent stake in LSE, has offered to pay 1,243 pence a share in cash for the rest of LSE.
A spokesman for Heyman declined to comment. Nasdaq could not be immediately reached for comment.