Nasdaq & ICE Bid Rejected By NYSE

Nasdaq Intention and IntercontinentalExchange (ICE) held New York Stock Exchange (NYSE) finally ran aground. NYSE reject the offer worth 11.3 billion U.S. dollars raised by Nasdaq and ICE.

NYSE Euronext said its directors had rejected an offer earlier this month proposed it. The reason is because the offer is accompanied by strict requirements and may pose a risk to other shareholders.

Over this rejection, NYSE Euronext plans to join the fixed exchange authority of Germany, Deutsche Boerse AG. NYSE agrees with the proposed price of Deutsche at 10 billion U.S. dollars in February. NYSE said the transaction with Deutsche provide added value for investors.

NYSE rejection has been predicted by analysts. Previously, analysts said the purchase would reduce the amount of work. They said the merger of the exchanges will lead to monopoly.

Source : Kmps

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Posted by Dwi Anggono on Monday, April 11, 2011. Filed under , . You can follow any responses to this entry through the RSS 2.0. Feel free to leave a response

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