10:59 ET<\/span>
\n<\/span><\/p>\nUS exchanges Nasdaq and ICE have mounted a $11.3bn (\u00a37bn) bid for NYSE Euronext, topping a previous offer from Deutsche Boerse.<\/p>\n
The bid compares with Deutsche Boerse’s offer of $10.2bn.<\/p>\n
But the move could raise competition questions, as it would bring together the two largest US stock exchanges. <\/p>\n
The Deutsche Boerse bid itself is also likely to raise regulation issues, as a deal would create a massive presence in certain European financial products.<\/p>\n
The Deutsche plan has also attracted political opposition from those against the idea of a foreign company taking over a Wall Street brand.<\/p>\n
The new offer, valued at $42.50 per share, is 27% above the company’s valuation before Deutsche Boerse’s initial bid in February.<\/p>\n
ICE, an Atlanta-based futures specialist, is interested in NYSE’s derivatives business while Nasdaq would like the stock exchanges and options businesses.<\/p>\n
NYSE shares rose 10.5% while Deutsche Boerse shares were down 0.2% in Frankfurt. Nasdaq fell 0.9% and ICE shares slipped 1.4%.<\/p>\n
NYSE Euronext said its board would “carefully review” the new offer and recommended that shareholders should take no action pending its review.<\/p>\n<\/p><\/div>\n<\/p>\n
See the original post:
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