Nasdaq OMX Sees Consolidation Gains
Although its intended acquisition of PHLX closed later than expected, Nasdaq OMX officials say they benefited from the delay to be able to "fine-tune our [integration] plan and hit the ground running," says Robert Greifeld, CEO of Nasdaq OMX Group, who spoke during the second quarter earnings call.
Nasdaq OMX announced plans to purchase PHLX in a $652 million cash deal late last year (DWT, Nov. 12, 2007).
Nasdaq OMX will realize its estimated $50 million in cost synergies through cutting headcount
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