Nasdaq, ICE Bet $350M On NYSE Deal's Antitrust OK

Law360, New York (April 19, 2011, 3:49 PM EDT) -- Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. are so confident their $11.3 billion counteroffer to buy out NYSE Euronext Inc. will win antitrust regulators' approval, they added a $350 million reverse breakup fee onto their bid Tuesday.

Nasdaq and ICE have already been meeting with and providing documents to antitrust staffers at the U.S. Department of Justice, and the companies are prepared to shell out the additional millions if their proposed transaction does not clear regulatory hurdles, the companies said in their formal merger proposal letter...
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