Greifeld's Next Acquisition
Nasdaq (NDAQ) CEO Bob Greifeld will make an acquisition in 2007. Shareholders will put pressure on Greifeld to get a deal done after losing the out on the LSE. The most likely US equity acquisition candidate is Investment Technology Group (ITG).
1. Investment Technology Group (ITG)
1. Investment Technology Group (ITG)
- Leader "...in trading technologies, algorithms and trading analytics..." (CIBC)
- Gaining an international presence ($0.06 of EPS in Q4)
- Joint venture w/ Merrill Lynch (MER-SP)
- Canada 45% growth
- Europe 19% growth
- Technology initiatives will drive growth in '07
- Global shift to electronic trading
- 10% y/y growth in Nasdaq and NYSE volume
- 16X forward earnings
- Electronic options exchange
- Recently introduced ISE Stock Exchange to compete w/NDAQ & NYX
- 22X forward earnings
- 20+% industry growth in '07 & '08
- Average price target $50
posted by Big Ben at Thursday, February 15, 2007
17 Comments:
Did he actually state that they're going to buy another company? I have yet to listen to their latest conference call, but I havent read anything like that. That said, I actually bought some ITG shares a few days ago based on, among other things, a likely takeover.
Stuart,
Here is a quote:
"In 2007, we will do a deal, we can't announce with who or when, but there will be a deal done."
Source: http://www.pbs.org/nbr/site/onair/gharib/070213_gharib/
Now that the budget is over, it will be back to fundamentals rather than anything else for everyone to debate....Markets will take their own course..
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