The American stock exchange NASDAQ is giving up on their hostile takeover attempt for the London Stock Exchange. They had insisted that LSE shares were overvalued and that the $24.35 per share that they offered was fair, but they only received acceptances for 0.41% of the LSE's shares. With the 28.75% of the LSE that they currently own, this left NASDAQ too far from the 50% of shares they need to take control of the British exchange. The LSE board is looking forward to forgetting about the takeover bid, as they put it, "without the distraction of ill-considered approaches which fail to understand the value of the business."