11:34am

Mon May 16, 2011
Business

Nasdaq Withdraws NYSE Bid; China Buys Stake In Saab

Nasdaq and the U.S. Intercontinental Exchange had been trying to lure the New York Stock Exchange away from a $10 billion offer from a German exchange. But Nasdaq said Monday it was clear that regulators would not approve the deal. Also, struggling carmaker Saab has found a lifeline. China's largest car distributor will inject funds in return for a stake in the brand, which GM sold to a Dutch company last year.

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