Marry in haste. (merger of Nasdaq and American Stock Exchange)
Economist (US), The, March, 1998
NEW YORK
MORE often than not, mergers between companies fail to deliver the bounty promised when they tie the knot. After Nasdaq and the American Stock Exchange unveiled details of their planned "market of markets" this week, only an optimist would be confident that this merger between bourses will work better than the average merger between businesses.
Nasdaq, America's second-biggest stockmarket, claims that acquiring the Amex will help it to compete more effectively with the giant New York Stock Exchange. But once Frank Zarb, Nasdaq's boss, has time to draw breath he may discover that he has made a mistake-one that diverts the energies of Nasdaq's managers just when the NYSE is unusually vulnerable.
Recently, Nasdaq seemed to have regained its...
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