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Nasdaq Stock Market Inc. is now cleared to rebid for British rival the London Stock Exchange, although a source familiar with the matter said on Monday the U.S. equities exchange isn't in any hurry to pounce.

Nasdaq had a $4.2 billion takeover offer for the LSE rebuffed in March and has since amassed a stake of just over 25 percent in the London mart.

Under British takeover rules, Nasdaq had to wait six months from withdrawing its offer before rebidding -- meaning it could only move again in October. Monday marks the first business day when Nasdaq can rebid.

As this time has drawn closer, there has been increased speculation about Nasdaq's intentions.

-T