Tags: NYSE | Nasdaq Bid

Nasdaq, ICE Take Bid for NYSE to Shareholders

Monday, 02 May 2011 03:38 PM

Nasdaq and IntercontinentalExchange are taking their unsolicited bid for the New York Stock Exchange directly to shareholders.

On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said they are starting an exchange offer to acquire all of the outstanding shares of NYSE Euronext for $11 billion.

The parent company of NYSE has already rejected the joint bid from Nasdaq and ICE two times. NYSE has said it is committed to its previously agreed-to $10 billion merger with German exchange operator Deutsche Boerse, despite the lower price for shareholders.

For each NYSE share, Nasdaq and ICE are offering $14.24 in cash, 0.4069 shares of Nasdaq stock and 0.1436 shares of ICE common stock.

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Nasdaq and IntercontinentalExchange are taking their unsolicited bid for the New York Stock Exchange directly to shareholders.On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said they are starting an exchange offer to acquire all of the outstanding shares...
NYSE,Nasdaq Bid
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2011-38-02
Monday, 02 May 2011 03:38 PM
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