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Entries in Intercontinental Exchange Inc. (2)

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The Frankfurt-based company originally made a $9.53 billion offer to buy the New York Stock Exchange, but the company’s offer has since risen to $9.68 billion, according to Bloomberg News.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

Saturday
Apr022011

Nasdaq Throws Hat in the Ring for Ownership of NYSE

Getty(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.

Copyright 2011 ABC News Radio







ABC News Radio