Another Wave of Takeover Race

This week Nasdaq has launched another attempt to acquire London Stock Exchange, and again has been rejected by LSE, as no surprise even to outsiders. As much as a lover of globalization and enthusiast of cross-Atlantic marriages, I am not sure I quite like the idea. This is not new headline story anymore, the new economy rejuvenlized after the Internet bubble, has been gaining more momentum and launching a full scale contest with old, traditional industry. We live in a dynamic world, Google's share price has hit new high -$500 a share, forget about old texbooks on valuation, this is the new generation!

And yet, I have some reluctance to have all American companies rule the world economy, although like it or not, that is what is happening. Airbus, is losing the game to Boeing. And I used to work for Reuters, still a big name in journalist world, but has already lost its edge to Bloomberg, a firm started by Michael Bloomberg only in the 1970s.

Maybe I am just nostalgic, there is a Chinese saying that the new wave will push the old waves, it is a given I guess. But if both the world military, political and economic power is centred in one country, I am not convinced it is a good thing. To overturn this trend is not an easy task though, our beloved European fellows (or maybe China) has some serious catch up job to do.