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Sunday
Apr102011

NYSE Board Rejects Nasdaq/ICE Offer, Backs Deutsche Merger

Comstock/Thinkstock(NEW YORK) -- The parent company of the New York Stock Exchange has rejected an $11.3 billion offer from Nasdaq and IntercontinentalExchange, paving the way for a possible merger with Germany's Deutsche Boerse.

The Frankfurt-based company originally made a $9.53 billion offer to buy the New York Stock Exchange, but the company’s offer has since risen to $9.68 billion, according to Bloomberg News. A deal with Nasdaq and IntercontinentalExchange would have been “highly conditional,” a statement by NYSE Euronext said Sunday, and would have required shareholders to “shoulder unacceptable risk.”

An agreement with Deutsche Boerse, NYSE Euronext said, would allow for more stability and growth.

Copyright 2011 ABC News Radio

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    NYSE Board Rejects Nasdaq/ICE Offer, Backs Deutsche Merger - Business News - ABC News Radio

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