WSJ Says Nasdaq (NDAQ) CEO Determined to Make Offer for NYSE Euronext (NYX) (ICE)
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The WSJ is reporting that Nasdaq (Nasdaq: NDAQ) execs have resolved to to make a counter bid for NYSE Euronext (NYSE: NYX), possibly in the range of $10-$13 billion.
Sources told the WSJ that Nasdaq CEO Bob Greifeld is very determined to get a chunk of the historic NYSE and, as it sounds, will do whatever to make this happen. Chatter suggests that Nasdaq could take on as much as $5 billion in debt in order to get the NYSE trading operations. IntercontinentalExchange (NYSE: ICE), rumored to be also involved in a deal, would get the Euronext derivatives assets.
The WSJ offers five hurdles that Greifeld and the Nasdaq will need to overcome in order to get its chunk of the NYSE:
Sources told the WSJ that Nasdaq CEO Bob Greifeld is very determined to get a chunk of the historic NYSE and, as it sounds, will do whatever to make this happen. Chatter suggests that Nasdaq could take on as much as $5 billion in debt in order to get the NYSE trading operations. IntercontinentalExchange (NYSE: ICE), rumored to be also involved in a deal, would get the Euronext derivatives assets.
The WSJ offers five hurdles that Greifeld and the Nasdaq will need to overcome in order to get its chunk of the NYSE:
- reach an agreement with ICE in regards to where certain NYSE Euronext assets will go
- inform regulators that that an NYSE deal with Deutsche Boerse would be harmful
- persuade authorities and politicians who have been looking at local job prospects
- convince the NYSE Euronext Board that a Nasdaq/ICE bid is superior to the Deutsche Boerse deal
- win over the NYX shareholders
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