Exchange operator Nasdaq OMX Group Inc (NDAQ.O) kicked its buyback plan into high gear with a deal to repurchase 11.5 percent of its outstanding shares from Borse Dubai for $497 million, sending its stock up 6 percent.
The repurchase of 22.8 million shares will be funded by a proposed $370 million bond sale, the U.S.-based company said on Thursday.
The news boosted Nasdaq OMX shares to their highest levels in nearly two years, while options traders turned very bullish on the company.
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