Borse Dubai and Nasdaq OMX approve DFM’s $121 million offer for Nasdaq Dubai

Borse Dubai and Nasdaq OMX have approved the Dubai Financial Market’s (DFM) 100 percent takeover of Nasdaq Dubai. DFM’s offer was for $121 million, comprised of $102 million in cash and 40 million shares on the financial market.

Nasdaq OMX has said it will allow Nasdaq Dubai to continue using its brand and technology.

“The aim of this transaction is to widen DFM’s asset classes for investors, to allow the company’s shareholders to benefit from the future growth of Nasdaq Dubai and to further develop closer operational links between the two exchanges. The ownership structure will create a dynamic new force in the region’s capital markets,” DFM said in a statement.