17 May 2011
Nasdaq and Intercontinental-Exchange (ICE) are withdrawing a Dubai-backed $11 billion offer for the parent of the New York Stock Exchange after recognising they would not receive regulatory approval for the transaction.
Nasdaq and Intercontinental-Exchange (ICE) are withdrawing a Dubai-backed $11 billion offer for the parent of the New York Stock Exchange after recognising they would not receive regulatory approval for the transaction.
The decision leaves the path open for NYSE Euronext to proceed with its previous $10 billion deal to combine with the German exchange operator Deutsche Boerse.
Nasdaq OMX Group and ICE said yesterday that they held unsuccessful talks with the antitrust division of the Justice Department about their joint bid for NYSE Euronext.
The announcement comes one week after the firms reached out directly to NYSE Euronext shareholders, issuing a letter saying that the NYSE board was rushing a vote without exploring better alternatives, after the board rejected their initial bid.
© 7Days 2011
