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Nasdaq to Acquire Majority Stake in Europe's Easdaq

Erica Berardi

Nasdaq said Tuesday that it plans to acquire a majority of the Easdaq's shares, expanding the electronic stock market from its trading platform in the U.S. and Japan into Europe.

Nasdaq will buy 58% of Easdaq's diluted stock, giving Nasdaq roughly 51% ownership after it issues additional shares and exercises warrants outstanding.

Nasdaq plans to restructure Easdaq, which was established in 1996, into Nasdaq Europe, "a globally linked, pan-European market." Nasdaq will implement a new trading system for Nasdaq Europe in May or June.