Nasdaq, ICE Make Rival $11.3 Billion Bid For NYSE Euronext

Nasdaq OMX and IntercontinentalExchange unveiled a rival bid to buy NYSE Euronext for about $11.3 billion in cash and stock, a 19 percent premium to an offer made by German competitor Deutsche Boerse.

The move, announced on Friday, represents an intense bidding war for NYSE Euronext, whose derivatives trading operations are highly valuable.

The new bid could also sit better politically, because the idea of a German company taking over the emblematic NYSE headquarters had stirred some political opposition in the United States.

The offer is valued at $42.50 per share, a premium of 19 percent to the agreement proposed by Deutsche Boerse in February, the companies said in the statement.

Shares of NYSE Euronext were up 11.6 percent at $39.26 in trading before the market opened.

(Reporting by Supantha Mukherjee in Bangalore and Lauren Tara LaCapra in New York; Editing by Unnikrishnan Nair and Lisa Von Ahn)

Copyright 2011 Thomson Reuters. Click for Restrictions.

Comments

[April22]

02:59 PM on 04/03/2011

The Chicago Mercantile Exchange may well decide that NYSE's derivatives business is enough for a higher hostile bid.

Then Nasdaq could become vulnerable to a hostile takeover.

Nasdaq's stock rose 9% on Friday, close to the NYSE's 13%.


http://www.crainsnewyork.com/article/20110403/SUB/304039963#

[shangrolah]

11:47 PM on 04/01/2011

Their bid isn't going to be accepted, though.

[MikeyJaii]

09:28 PM on 04/01/2011

Separation of power! Can't let them do that!

[themodernleader]

09:09 PM on 04/01/2011

 Whatever economic predator buys the NYSE should be forewarned.  They will go bankrupt paying off any loans they incurred in the purchase.  In a short time the entire financial system will blow up, the implode leaving NYC and our nation impoverished and enslaved by international cabals.  A nation that chases money borrowed from financial cabals is a nation, instead of making honest livings is a doomed nation.
  This is not new.  In the decoining years of the Roman Republic, the "financiers" were strong enough to ruin any politician (or general) who sought to secure fair treatment or reform.  Thje capitalists pervaded all aspects of public life.  Cato wrote there was no great difference between a money-lender and a murderer and another respected critic wrote that Roman capitalists wa s fundamenta cause to the decline in vigour and numbers of the Italian people.  Julius Caesar:Man, Soldier and Tyrant, 1965. p. 21.
  In our own nation, the quality of our citizens is declining astonishingly fast.  They are generally poorer, many in deep poverty.  The young are either interested in pushing buttons and the fast undeserved profit or the plunder on the streets and roads of our declining cities and unprotected rural areas.  The educated and wealthy care not at all for the nation, only of themselves.  It is amazing how both citizentrys were taken in by the financial promises of rapid wealth by simply studying graphs and charts and being connected to economic and political power. 

[optomist1]

07:58 PM on 04/01/2011

Viva Las Vegas!!!!

[Hank Hall III]

07:23 PM on 04/01/2011

What a cannibalistic world we live in.

[ArchbishopBenevolent]

05:54 PM on 04/01/2011

The possibility that the NYSE will stay in US hands is good.

However, the NASDAQ/ICE offer is still too low given the worldwide reputation of the New York Stock Exchange which also has Euronext.

I don't see where the 19% premium is coming from. Sounds like an inflated number. I thought Deutsche Boerse offered $38 for NYSE/Euronext, which would make the premium about 11%?

[frank day]

05:25 PM on 04/01/2011

I know its old fashioned, but I really don't want Germans owning NYSE.

[BlacknProud310]

08:15 AM on 04/02/2011

It would only bring about much needed reform that our less than capable Americans can seem to bring to the table. personally, I like the idea as right the Germans are the only sensible team in the world trying to solve problems for their people. Maybe by default, they can America solve problems for her people as well.

I also like that their politicians do not have to be bought and if there is ever a hint of dishonesty, they resign. Hmmm, how noble is that. I wonder if we can catch some of the action over here.

[WeAreUnstoppable]

01:01 PM on 04/01/2011

DON'T YOU DO IT!!!