NDAQ - Is Nasdaq a Buy Sell or Hold After Its $10.5 Billion Adenza Acquisition?
2023-06-21 06:30:00 ET
With its recent acquisition of risk management and regulatory software specialist Adenza from private equity firm Thoma Bravo, Nasdaq (NASDAQ: NDAQ) continued its transformation into a leading technology provider to the financial industry.
However, after the announcement of the $10.5 billion deal, the market sent Nasdaq's shares down by more than 10%.
Compared to the company's current market capitalization of $26 billion, the $6 billion in additional debt it will have to take on to fund the deal seemingly has the market worried -- or, at least, skeptical about the premium that Nasdaq is paying.
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Is Nasdaq a Buy, Sell, or Hold After Its $10.5 Billion Adenza Acquisition?