NASDAQ is Discussing Further Acquisitions with Investment Bankers [REPORT]VW Staff
FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports “that NASDAQ is discussing further acquisitions” with bankers. Gasparino went on to report, that “bankers are warning” officials that “if you buy something that’s sizable…expect a rating downgrade.”
Excerpts from the report are below.
On whether NASDAQ is discussing further acquisitions with bankers:
“What sources are telling the FOX Business Network is that NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) is discussing further acquisitions. As you know they just bought eSpeed from Cantor Fitzgerald, but bankers are warning this. If you buy something, if you buy something that’s sizable CEO Mr. Greifeld, expect a rating downgrade. We should point out that NASDAQ is one notch above Junk, that’s Junk Bond Status. Which means that if they do go out and they buy something – given their capital levels and particularly if they use debt, debt is kind of a good way to finance stuff now because interest rates are so low. There’s a good chance that NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) is going to get downgraded to Junk, at least that’s what bankers are advising the firm officials are telling them.”