Nasdaq, IntercontinentalExchange may team up

By Reuters
Posted Feb. 16 at 11:30 a.m.

Nasdaq OMX Group is scrambling to respond to Deutsche Boerse AG’s $10.2 billion takeover of NYSE Euronext, and may team up with IntercontinentalExchange Inc, Fox Business Network said.

Nasdaq has hired an investment bank and has discussed launching a joint bid for NYSE with Chicago-based CME Group, the report said. The deal to team up with ICE had not gone to Nasdaq’s board of directors as of Tuesday, the report said.

It was unclear whether the report was referring to a potential Nasdaq merger with ICE, or to a possible joint bid for NYSE.

“Everybody has to respond but no one is in worse shape than the Nasdaq,” Fox Business News reporter Charles Gasparino said. “There is a chance they could get swept away in this.”

Representatives of Nasdaq and ICE did not immediately respond to requests for comment. CME has previously declined to comment on prospects of working with Nasdaq on a bid for NYSE.

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