Carlyle May Have Lost Out, But Nasdaq Is Still Ripe for the Picking
Carlyle Group (NYSE:CG) engaged recently in talks with Nasdaq OMX Group (NASDAQ:NDAQ) about taking the latter private, but talks between the private equity firm and the exchange runner reportedly broke down due to price disagreements.
It was in the early stages of due diligence that differences emerged, according to a Fox News report citing people familiar with the talks. Management at Nasdaq is said to have felt they were being undervalued compared to their peers, and were prevented from moving forward by their fiduciary responsibility to consider all offers, though such reports are thus far unconfirmed, as neither company will comment on the matter.
Carlyle is the only private equity firm listed on the Nasdaq, and one of only four private equity firms publicly traded in the U.S. market. Carlyle went public in May of last year, with new CFO Adena Friedman leading the way. Before joining Carlyle in 2011, Friedman had been at Nasdaq since 1993…