We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Nasdaq OMX and ICE pull bid for NYSE


Plans shelved after talks with US Department of Justice’ antitrust division

Article comments

Plans that would have seen Nasdaq OMX and IntercontinentalExchange (ICE) acquire NYSE Euronext were officially shelved on Monday after the two businesses met with US antitrust regulators in recent weeks.

Joint takeover proposals were put forward in April of this year but will not now go ahead because it was made clear that regulatory approval would not have been granted.

“We saw a unique opportunity to create more value for stockholders and strengthen the US as a centre for capital formation amid an on-going shift of these vital activities and jobs outside of our country,” Nasdaq OMX’ chief executive Bob Garfield said in a statement released on Monday.

“We took the decision to withdraw our offer when it became clear that we would not be successful in securing regulatory approval for our proposal despite offering a variety of substantial remedies, including the sale of the NYSE SRO and related businesses.”

ICE’s chairman and chief executive said: “We will continue to seek opportunities that benefit our customers and stockholders and that leverage our unique global market infrastructure in commodities, derivatives and clearing.”

Earlier on Monday, the London Stock Exchange Group said it is still keen to proceed with a move to merge with TMX even after a rival bidder emerged for the Canada-based exchange.

Share:

Comments

Nasdaq OMX and ICE pull bid for NYSE
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..


Card Factory planning London listing

Share float could see company valued close to £1 billionmore ..

Unilever reports Q1 sales growth of 3.6%

However, consumer product giant’s turnover hit by 8.9% negative currency impactmore ..

Spirent posts 16% rise in Q1 revenue

Networks testing firm benefiting from 4G rollout in Chinamore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Do you have what it takes to become a non-executive?

Do you have what it takes to become a non-executive?

The benefits of board service for CFOs more ..

In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

Advertisement

* *