Nasdaq-ICE make rival bid for NYSE

NEW YORK (CNNMoney) — Nasdaq OMX and IntercontinentalExchange on Friday announced a joint $11.3 billion bid to buy the parent company of the New York Stock Exchange, topping an offer by Germany’s Deutsche Boerse.

The rival bid comes after NYSE Euronext agreed in February to be bought by the German company for $10 billion in a deal that would create the world’s largest exchange for stocks and derivatives.

Under the rival offer, NYSE Euronext (NYX, Fortune 500) stockholders would receive $14.24 in cash, plus 0.4069 share of Nasdaq (NDAQ) common stock and 0.1436 share of ICE (ICE) common stock for each NYSE Euronext share.

The offer represents a 19% premium over the one made by Deutsche Boerse, according to a statement from Nasdaq and ICE.