The London Stock Exchange (LSE) board unanimously rejected a $5.1 billion buyout bid by the Nasdaq (NADQ) exchange on Monday.
LSE rejected the offer, saying it fails to recognise the value of the exchange. Nasdaq failed in an earlier attempt this year to take over the company.
Nordic and Baltic stock exchange operator OMX AB said Tuesday it will buy the Icelandic bourse in a deal worth about 250 million kronor.
Nasdaq International said on Sunday it was focusing on the China market as strong economic growth creates a broad range of companies that are seeking overseas listings.
Euronext's $10 billion tie-up with NYSE Group Inc. puts pressure on other exchanges to seek partnerships to catch up with what will be the world's largest financial marketplace, analysts said on Friday.
The London Stock Exchange and Euronext have held secret talks about a all-shares merger of equals to create a European super exchange valued at about 6 billion pounds ($10.5 billion), the Observer newspaper said on Sunday.