Keith Bowman Quotations

The positive share price reaction is a result of investor perception that the sum of the parts is worth more than the current combined businesses.

While market expectation is that it will eventually lead to a full blown takeover, it could in the medium term prove to be a negotiating tactic - the board of the London Stock Exchange now have to think again with regards to their possible future while Nasdaq has effectively left itself with a big say in any future developments.

The... acquisition of the Birthdays chain of stores is compounding what are without doubt the most challenging trading conditions the group has seen in years.

This looks to be a clever and unexpected move by the Nasdaq exchange.

We certainly had very good levels of interest from private clients.

Although the revenue figure came in ahead of consensus forecasts, investors should not get carried away -- this is only the first-quarter period and there is still a long way to go.

Today's in-line figures mark an interesting contrast with the above forecast results received recently from rival Legal and General -- where improved UK business underpinned well-received figures.

Today's fall. . . is as much about profit taking as it is to do with the cautious outlook statement.

The consolidation story across the industry is certainly growing. Although there's no speculation on Legal & General at the moment, its very strong UK market share could put it in the firing line.

There is likely to be much deliberation over such a bid and it is almost unthinkable that the U.K. government would not become involved.