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Asset Management unit,

Asset Management unit, to acquire all of that firm's stake, consisting of 35.4 million shares, at 11.75 per share.[20] NASDAQ also purchased 2.69 million additional shares, resulting in a total stake of 15%. While the seller of those shares was undisclosed, it occurred simultaneously with a sale by Scottish Widows of 2.69 million shares.[21] The move was seen as an effort to force

LSE to the negotiating table,

LSE to the negotiating table, as well as to limit the Exchange's strategic flexibility.[22] Subsequent purchases increased NASDAQ's stake to 25.1%, holding off competing bids for several months.[23][24][25] United Kingdom financial rules required that NASDAQ wait for a period of time before renewing its effort. On 20 November 2006, within a month or two of the expiration of this period,

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