{"id":310536,"date":"2011-03-15T08:33:20","date_gmt":"2011-03-15T08:33:20","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/15\/nasdaq-to-make-rival-nyse-bid\/"},"modified":"2011-03-15T08:33:20","modified_gmt":"2011-03-15T08:33:20","slug":"nasdaq-to-make-rival-nyse-bid","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/15\/nasdaq-to-make-rival-nyse-bid\/","title":{"rendered":"Nasdaq &#8216;to make rival NYSE bid&#8217;"},"content":{"rendered":"<p><div readability=\"73.0186418109\">\n        \t\t  <span><br \/>\n    <span>15 March 2011<\/span><br \/>\n<span>Last updated at <\/span><span>04:33 ET<\/span><br \/>\n<\/span><\/p>\n<p>Nasdaq OMX Group is set to launch a $12bn (\u00a37.5bn) bid for NYSE Euronext later this week, various reports in the US media claim, citing unnamed sources.<\/p>\n<p>The US technology exchange is said to be seeking $5bn debt to fund the bid.<\/p>\n<p>The deal would compete directly with the $10.2bn tie-up between NYSE and Deutsche Boerse already agreed between the two companies&#8217; boards in February.<\/p>\n<p>It would create a heavily US-oriented firm, and reportedly includes the sale of existing European assets of NYSE.<\/p>\n<p>  <span>Europe spin-off<\/span><\/p>\n<p>None of the parties involved has officially commented, despite widespread media reports, with Bloomberg, Reuters, the Wall Street Journal and Financial Times all independently confirming the claims.<\/p>\n<p>Bank of America is said to be lining up the the planned debt from four banks.<\/p>\n<p>  <a href=\"http:\/\/www.bbc.co.uk\/news\/business-12742636#story_continues_2\">Continue reading the main story<\/a><\/p>\n<p>\t<!-- S MD_WIDGET --><\/p>\n<p>\t<!-- E MD_WIDGET --><\/p>\n<p>Nasdaq also reportedly plans to finance the bid by selling $5bn of its own assets.<\/p>\n<p>This would include spinning off some of NYSE&#8217;s European businesses, including its London-based derivatives business, Liffe, to the Atlanta-based Intercontinental Exchange.<\/p>\n<p>If Nasdaq succeeds in thwarting the planned merger with Deutsche Boerse, it would have to foot a $250m break-up fee already agreed by NYSE with the German exchange to help cement their deal.<\/p>\n<p>The offer would keep the NYSE in US ownership, in contrast to the Deutsche Boerse tie-up which would see the Wall Street business reporting to a group headquarters in Frankfurt.<\/p>\n<p>The Wall Street exchange has benefited from market anticipation of a possible bidding war.<\/p>\n<p>When rumours of the deal first broke on Monday, NYSE Euronext&#8217;s share price spiked 8.5%, before eventually ending the day 3.5% higher in New York.<\/p>\n<p>The firm gave up some of those gains at the open of European trading on Monday, falling back 1.4% in the opening minutes, in line with a general decline across stock markets.<\/p>\n<\/p><\/div>\n<\/p>\n<p>Link:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/business-12742636\" title=\"Nasdaq 'to make rival NYSE bid'\" rel=\"noopener noreferrer\">Nasdaq &#8216;to make rival NYSE bid&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 15 March 2011 Last updated at 04:33 ET Nasdaq OMX Group is set to launch a $12bn (\u00a37.5bn) bid for NYSE Euronext later this week, various reports in the US media claim, citing unnamed sources. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-310536","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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