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Euronext N.V. has a battle on its hands as it seeks to gain scale and scope if it is to survive industry consolidation. A seemingly perfect acquisition opportunity has presented itself, and Euronext will have to persuade the London International Financial Futures and Options Exchange to choose its bid, ahead of bids from bigger and better-known rivals in London and Frankfurt. This case focuses on the issues of cross-cultural communication and management, and the interplay between high-level strategy and communication.