CME Group (CME) Weighs Hostile Bid for NYSE Euronext (NYX)

Shares of NYSE Euronext, Inc. (NYSE: NYX) pushed higher mid-day following reports from FOX Business Network's Charlie Gasparino that CME Group Inc. (NYSE: CME) is weighing a a potential hostile bid in light of the NYSE's merger talks with Deutsche Boerse.

"Sources are telling the FOX Business Network the CME are discussing a strategic response to this deal. Bankers are telling the FOX Business Network the CME may pursue a hostile bid for the New York Stock Exchange. The CME refuses to deny this speculation," Gasparino reported.

"The CME is at a big strategic disadvantage. The CME has a lot of money. This deal is not that expensive to bid on. It is getting a ton of regulatory review. If a hostile bid would go in there, it puts the breaks to this very formal competition against the CME. There is a lot of speculation as to what the CME may do including buy other exchanges, team up with NASDAQ (Nasdaq: NDAQ), some sort of joint bid between the NASDAQ and the CME," he continued.

Shares of last traded at $39.54, up 3.2 percent on the session.

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