Nasdaq, ICE Bid For NYSE Goes Hostile

Law360, New York (May 2, 2011, 8:10 PM EDT) -- Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said Monday they would take their $11 billion bid for rival NYSE Euronext Inc. hostile, adding another wrinkle to a deal that has already drawn scrutiny from antitrust regulators.

The Nasdaq and ICE boards approved a plan to go straight to NYSE Euronext's shareholders with a mixed cash-stock deal, they said. Its terms are the same as those in the proposal NYSE Euronext's board rejected.

Deutsche Boerse AG and NYSE Euronext said in February that they had struck an...
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