America's Nasdaq and Chicago stock exchanges have joined the bidding for Instinet, the US-based exchange and broking company that is majority-owned by Reuters and is expected to sell for more than $2 billion (EUR1.07 billion). Reuters, the UK-listed financial news and data company, owns 62 per cent of Instinet, and said in November that it was considering putting the company up for sale. On Friday, it was reported that Archipelago Holdings, a Chicago-based company that owns an electronic stock market, was bidding, boosting Instinet's shares by 6.5 per cent to $6.07, and Reuters stock by 0.6 per cent to 390.75p.
I'm going to be pulling my hair out trying to cover this this week. Round up the usual suspects!