Nasdaq and ICE Drop Bid for NYSE
Nasdaq OMX and IntercontinentalExchange announced on Monday
they were dropping their bid for NYSE Euronext, after
antitrust regulators said the deal would not gain the
necessary approvals.
Nasdaq and ICE spent weeks trying to court NYSE. In April,
the two exchanges made an $11.3 billion takeover offer for
the owner of the Big Board, sweetening a $10 billion deal put
forth by Deutsche B�rse weeks before.
But NYSE remained committed to the tie-up with the owner of
the Frankfurt exchange, twice rejecting the offer from Nasdaq
and ICE. The management of NYSE said, in part, that it
worried a deal with NYSE and ICE would not clear regulatory
hurdles.
Read More:
http://dealbook.nytimes.com/2011/05/16/nasdaq-and-ice-pull-offer-for-nyse-euronext/?emc=na
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