New York giants Skadden Arps Slate Meagher & Flom and Cleary Gottlieb Steen & Hamilton have bagged roles on the $3.7bn (£1.9bn) acquisition of Nordic exchange operator OMX Group by Nasdaq.

Skadden has teamed up with local outfit Cederquist to advise Nasdaq, while Cleary and Swedish leader Vinge are advising the target.

Skadden is fielding teams out of its New York and London offices, with M&A partner Eric Friedman and finance partner Sarah Ward heading up the team in Manhattan and corporate partner Michael Hatchard leading the firm's City contingent.

The deal comes with Skadden also advising the US exchange on its bid to merge with the London Stock Exchange (LSE), which it values at around £2.7bn. Hatchard and Friedman are also taking lead roles on that approach, with London finance partner Mark Darley and Chicago finance partner Randall Rademaker also involved.

Freshfields Bruckhaus Deringer is advising long-term client the LSE, with corporate partner David Higgins and consultant Graham Nicholson leading a team that also including corporate partner Andrew Hutchings and antitrust partner Deirdre Trapp.