The Nasdaq Stock Market Inc. and a consortium of investors announced on Friday an agreement to purchase Instinet Group Inc. from its majority owner, Reuters Group PLC, for $1.88 billion in cash.
Under the deal, which had been widely anticipated by market watchers for weeks, Nasdaq will pay $934.5 million, while private equity firm Silver Lake Partners and cash from Instinet’s balance sheet will comprise $207.5 million, Reuters reported.
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