DOJ Drops Hammer On $11B Nasdaq-ICE Bid For NYSE

Law360, New York (May 16, 2011, 1:47 PM EDT) -- The U.S. Department of Justice put the kibosh Monday on an $11 billion bid by Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. for rival stock exchange NYSE Euronext Inc., causing the suitors to give up their pursuit of the deal.

The department told Nasdaq and ICE it would file an antitrust lawsuit to block the deal if it had to, prompting them to back away from their hostile bid and eliminating perhaps the largest hurdle preventing Deutsche Boerse AG from executing its first-out-of-the-gate merger with NYSE...
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