NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) shares were the leading gainer in the S&P 500 financial stocks on Wednesday later than the company announced that it’s paying $390 million to purchase some assets from Thomson Reuters Corporation (USA) (NYSE:TRI) that will tally up 7,000 clients to its corporate services dealing.
Nasdaq decided to purchase Thomson Reuters’s investor relations, public relations and multimedia services dealings for $390 million in cash.
Nasdaq has been seeking to compensate for feeble equity trading volumes by beefing up its technology and data services offering for corporate customers. [article_detail_ad_1]
Nasdaq Chief Executive Bob Greifeld commented that in one acquisition, they accelerate and achieve their Corporate Solutions long-term objectives, whereas maintaining their unbiased strategy of delivering value to shareholders.
Moreover in the news, Berkshire Hathaway Inc. (NYSE:BRK-A) shares advanced 2.2% following the company stated that it purchased 9,200 of its Class A shares for $131,000 a share from the property of a longtime shareholder, whom the holding company did not name.
Berkshire’s Class A shares and Class B shares both advanced almost 1.7% on the heels of the statement, later than trading was stopped on the New York Stock Exchange.
Berkshire Hathaway, which is managed by billionaire Warren Buffett, stated the company’s board of directors sanctioned the purchase synchronized with lifting the price limit for buybacks to 120% of book value.
Berkshire stated that it may acquire additional shares in the market or through direct offerings at no over 120% of book value. However in the broader sector, the Financial Select Sector SPDR (ETF) (NYSEARCA:XLF) increased 0.75%.