Was dragged down by the Nasdaq action . Why I continue to invest here and have now closed my position size ?
Nasdaq is buying Adenza:
The deal represents 31 times Adenza's expected earnings before interest, taxes, depreciation and amortization and cost savings this year, Jefferies analysts said.
S&P downgraded its rating based on the increased debt size after the deal. It described the deal as "notable" for Nasdaq, though "not transformational." "However, we do not believe it will significantly alter Nasdaq's relative strength compared to major peers. . .
Before Monday's announcement, Nasdaq shares had fallen nearly 10 percent in the past six months, underperforming rival exchanges such as ICE, CME Group and LSE, which have gained between 5 and 17 percent.
Source: FINANCIAL TIMES:
