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.