Nasdaq's (NDAQ) eSpeed Deal has Trade-Offs for Investors - Jefferies
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UPDATE: NASDAQ OMX Group (NDAQ) senior rating might be cut to junk by Moody's
April 1, 2013 5:13 PM EDT(Updated - April 1, 2013 5:16 PM EDT)
NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) senior rating might be cut to junk by Moody's.
From Moody's:
Moody's Investors Service placed the ratings of NASDAQ OMX (senior at Baa3) on review for downgrade following the announcement that NASDAQ OMX will acquire the eSpeed trading platform from BGC Partners for $750 million in cash plus stock expected to be delivered over the next 15 years.
RATINGS RATIONALE
Moody's estimates that the eSpeed acquisition (together with... More
UPDATE: NASDAQ (NDAQ) to acquire eSpeed from BGC (BGCP) in $1.2B deal
April 1, 2013 4:02 PM EDT(Updated - April 1, 2013 4:05 PM EDT)
BGC Partners, Inc. (Nasdaq: BGCP) has entered into an agreement pursuant to which it will sell its benchmark, on-the-run, U.S. Treasury fully electronic trading platform to NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) ("NASDAQ OMX"). Total consideration for this transaction is up to $1.234 billion, consisting of $750 million in cash plus an earn-out of up to $484 million of NASDAQ OMX common stock[1] to be paid ratably over 15 years.
BGC is selling only its on-the-run, benchmark 2-, 3-, 5-, 7-,... More
The Nasdaq OMX Group (NDAQ) Halted with News Pending
April 1, 2013 4:01 PM EDTThe Nasdaq OMX Group (Nasdaq: NDAQ) Halted with News Pending... More
