RiskTech Forum

Competition Watchdog Probes Nasdaq Takeover of Cinnober

Posted: 26 November 2018  |  Source: Finextra

UK anti-trust regulators are probing the proposed takeover of Swedish trading technology firm Cinnober by Nasdaq.

Nasdaq made an all-cash offer of $190 million in September to acquire Cinnober.

The Competition and Markets Authority (CMA) is considering whether the transaction will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002. If so, the watchdog is concerned that the proposed takeover may result in a "substantial lessening of competition" within the Uk market for goods or services.

The CMA is inviting comments from interested parties by 7 December.