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Nasdaq raises bid for Swedish tech provider Cinnober to $220m

US exchange group hopes the deal will help it to build it build its market technology business

US exchange Nasdaq has raised its offer for Swedish trading technology provider Cinnober to $220m after an insufficient shareholder response to its previous bid.

Nasdaq, which has a strong presence in the Nordic market, wants to buy Cinnober to build its growing market technology business. Cinnober, whose customers include Euronext, Japan Exchange Group, and the London Metal Exchange, supplies clearing and trading technology.

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