OM Group today reaffirmed its bid for the London Stock Exchange and criticised LSE chairman Don Cruickshank for what it called a "seriously misleading statement".
OM claimed that at yesterday's extraordinary general meeting, at which 33% of shareholders voted against the OM bid, Cruickshank said that any bidder needs the support of 75% of LSE shareholders to be successful. OM pointed out that by law the bidder needs 75% of those present and voting, not of the entire shareholder base.
