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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The Frankfurt-based company originally made a $9.53 billion offer to buy the New York Stock Exchange, but the company’s offer has since risen to $9.68 billion, according to Bloomberg News.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.

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

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