(NEW YORK) -- Nasdaq has prepared a $11.3 billion bid for the New York Stock Exchange, part of an effort to top a German rival's offer.
Nasdaq OMX Group Inc. and Intercontinental Exchange Inc. announced the solicited bid on Friday. The partnership has reportedly been working to draft a deal since February when the NYSE announced it was being purchased by Deutsche Börse AG for $9.5 billion.
The NYSE has confirmed that it received the new proposal and was in the process of reviewing it.
If the Nasdaq and ICE bid is successful, it would mean the Big Board, an icon of American capitalism, would remain in U.S. hands rather than being owned by a German company.
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