NYSE Euronext’s speedy rejection of a bid from Nasdaq OMX Group Inc and IntercontinentalExchange Inc could play into their hands, a veteran of the last bidding war for a U.S. exchange said. Get the full story »
Nasdaq OMX Group
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Nasdaq, ICE to continue offer for NYSE
Nasdaq and Intercontinentalexchange Inc will continue to press management of rival exchange NYSE to accept their takeover offer, ICE CEO Jeffrey Sprecher said on Tuesday. Get the full story »
Nasdaq and ICE not walking away from NYSE bid
Nasdaq OMX Group and IntercontinentalExchange Inc are not going to walk away from their bid for NYSE Euronext, despite the NYSE board’s rejection of the unsolicited offer, according to people familiar with the matter. Get the full story »
NYSE unswayed by Nasdaq bid
NYSE Euronext believes that any kind of merger with Nasdaq OMX — whether the Big Board were the buyer or the seller — makes little strategic sense, and antitrust regulators would block it, according to a source close to the company.
Nasdaq index rebalancing slashes Apple’s influence
Nasdaq’s late-night announcement of plans to rebalance its benchmark Nasdaq-100 Index spurred volatility in Apple shares and surprised U.S. fund managers who questioned the timing of the announcement. Get the full story »
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 »
BATS to list public shares, challenging NYSE
BATS Global Markets plans to list U.S. public stocks by year end, opening the door for companies to float shares somewhere other than the Big Board or Nasdaq for the first time in years. Get the full story »
Nasdaq faces hurdles in winning NYSE, say experts
Nasdaq OMX Group Inc.’s possible counterbid for NYSE Euronext faces some big hurdles, including funding a complicated deal and convincing Big Board shareholders that it’s better than Deutsche Boerse’s offer, experts said. Get the full story »
Nasdaq bid for NYSE could come this week
Nasdaq OMX Group Inc is preparing an offer for NYSE Euronext and the bid could come as early as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter.
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 »
Nasdaq, ICE consider bid on NYSE
Nasdaq OMX and IntercontinentalExchange are in talks to team up on a possible bid for NYSE Euronext, in an attempt to break up the Big Board’s deal with Deutsche Boerse, the New York Times’ Dealbook reported on Friday. Get the full story »
Nasdaq to let investors trade on smartphone index
Investors hoping to ride the current wave of smartphone growth can now buy shares of a new exchange-traded fund based on the NASDAQ’s CEA Smartphone Index.
The First Trust NASDAQ CEA Smartphone Index Fund trades under the ticker symbol FONE and “provides a convenient way for investors to take advantage of the positive trends that are shaping the smartphone industry,” the NASDAQ OMX Group Inc. said in a press release. Get the full story »
U.S. bourses not rushing to merge, analysts say
U.S. exchanges may not rush to strike deals to compete with the combined Deutsche Boerse AG and NYSE Euronext, even as the sector is almost certain to consolidate further over the long term.
In particular, analysts cast doubt on a report that CME Group would try to buy NYSE Euronext — operator of the New York Stock Exchange — away from its German suitor, which this week offered to pay $10.2 billion for the icon of U.S. capitalism. Get the full story »
Nasdaq, IntercontinentalExchange may team up
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. Get the full story »
Nasdaq CEO: New market obligations unlikely in ‘11
The head of Nasdaq OMX Group Inc said on Friday he does not expect any new obligations or privileges for U.S. “market-makers” until 2012 at the earliest, calling any regulatory change “a slippery slope.” Get the full story »
