Nasdaq, ICE Top Deutsche With $11.3B Bid For NYSE

Law360 (April 1, 2011, 4:14 PM EDT) -- Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said Friday they had made a joint proposal to acquire Big Board exchange owner NYSE Euronext in an $11.3 billion cash and stock deal, overshadowing Germany-based Deutsche Boerse AG's all-stock bid.

The hostile bid, delivered Friday in a letter to the board of NYSE Euronext, represents a 19 percent premium over the price proposed by Deutsche Boerse, the U.S. exchanges said, adding that such a "unified U.S. equities market would ensure that the U.S. is better able to compete...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.