The board of NYSE Euronext on Sunday unanimously rejected a takeover proposal from IntercontinentalExchange Inc. and Nasdaq OMX Group to break up the company, and reaffirmed its commitment to agreed merger partner Deutsche Boerse AG. Get the full story »
Deutsche Boerse
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NYSE board to meet on Nasdaq by April 14
NYSE Euronext’s board of directors plans to meet by April 14 to consider Nasdaq OMX Group’s unsolicited takeover bid, though no firm date has been set, a person familiar with the plan said on Tuesday. Get the full story »
ICE: Exchange mergers a consequence of reforms
Mergers sweeping financial exchanges are in part an unintended consequence of global financial regulatory reforms, the head of IntercontinentalExchange Inc. said Wednesday. Get the full story »
Nasdaq may partner with CME on NYSE bid
Chicago's CME Group offices at 30 S. Wacker Drive in Chicago. (Nancy Stone/Chicago Tribune)
Nasdaq OMX Group could launch a rival bid for NYSE Euronext to avoid being left on the sidelines, a source said, as traditional exchanges race to merge to see off upstart electronic rivals.
This is one option Nasdaq, valued at $5.7 billion, is considering as a spate of deals shakes up an industry under intense cost pressure from new entrants such as BATS Global Markets, which last week snapped up rival Chi-X.
Nasdaq’s alternatives include tying up with IntercontinentalExchange Inc or the Chicago Mercantile Exchange (CME) to wrest NYSE from its planned $10.2 billion takeover by Deutsche Boerse, the source familiar with the matter said. Get the full story »
CME discussed merger with Deutsche Boerse
Exchange giant CME Group Inc. discussed a merger with Deutsche Boerse AG in late 2007, but the two companies couldn’t agree on a price, according to people familiar with the matter.
The aborted talks show how hungry the Chicago company was to combine the biggest derivatives-trading operations in the U.S. and Europe. Even though the discussions fell apart, CME still has ambitions for world-wide dominance in derivatives. Get the full story »
