Share prices for the OMX group, which operates stock exchanges in the Nordic and Baltic region touched new highs Monday on reports that Borse Dubai was willing to further increase its bid over the offer presented by NASDAQ in May, according to dpa. Borse Dubai, part of the Dubai International Financial Centre (DIFC) group which in turn is owned by United Arab Emirates Prime Minister and Vice President Sheikh Mohammed bin Rashid al-Maktoum, recently offered 230 kronor (33.09 dollars) per share for OMX, a premium of 13 per cent above the NASDAQ offer of 200 kronor. On Monday, OMX shares surged to 250 kronor before settling at almost 248 kronor following unconfirmed news reports carried by The Sunday Times of London that the Dubai Borse was prepared to increase its bid to 300 kronor. The Daily Telegraph reported meanwhile that NASDAQ and Dubai Borse were in talks about a possible alliance where they would jointly own OMX. OMX, the largest stock exchange operator in the Nordic and Baltic region, operates the exchanges of Stockholm, Copenhagen, Helsinki and the three Baltic capitals Tallinn, Riga and Vilnius. The Dubai offer effectively values the OMX at some 4.1 billion dollars, compared with the 3.7 billion dollars in the offer by NASDAQ, the world's second-biggest stock exchange operator. A successful takeover of OMX by Borse Dubai would make it the world's fifth-largest stock exchange company. The Swedish government is the second largest shareholder in OMX with a 6.6 per cent stake and has commissioned a review of the bids.
