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OM Group fails in LSE bid

Sweden&#39s OM Group has failed in its bid to take over the London Stock Exchange after only 6.7 per cent of LSE&#39s shareholders voted to back the move.

The OM Group needed 50 per cent plus one share in order for the £940m bid to be successful but city experts said the owners of the Stockholm stock exchange did not ever look likely to reach the target.

LSE chairman Don Cruickshank says: “Now we can get on with building the business from its strong foundations and implementing our strategy in full consultation with shareholders and customers.”

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