NASDAQ (NDAQ) "Scrambling" To Find Response to NYSE/Deutsche Boerse Deal
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In light of yesterday's NYSE/Deutsche Boerse deal, NASDAQ (Nasdaq: NDAQ) is "scrambling" for a response and has hired bankers to explore teaming with up with CME Group (NYSE: CME) or IntercontinentalExchange (NYSE: ICE), according to reports from FOX Business Network (FBN) Senior Correspondent Charlie Gasparino.
According to Gasparino, "NASDAQ is scrambling to respond. The FOX Business Network has learned they have hired an investment bank. Internally they are talking about a number of options. They have had discussions with the CME about a joint bid. There is some serious discussion about teaming up with ICE, the Intercontinental Exchange."
A deal with ICE would be a takeover of NASDAQ, versus a merger of equals. However, the deal has not yet reached the Board of Directors at ICE.
"Clearly the NASDAQ CEO knows he needs to make a competitive response. They are in an incredibly bad competitive situation and they have to respond. Everybody has to respond but no one is in worse shape than the NASDAQ. There is a chance they could get swept away in this," Gasparino continued.
According to Gasparino, "NASDAQ is scrambling to respond. The FOX Business Network has learned they have hired an investment bank. Internally they are talking about a number of options. They have had discussions with the CME about a joint bid. There is some serious discussion about teaming up with ICE, the Intercontinental Exchange."
A deal with ICE would be a takeover of NASDAQ, versus a merger of equals. However, the deal has not yet reached the Board of Directors at ICE.
"Clearly the NASDAQ CEO knows he needs to make a competitive response. They are in an incredibly bad competitive situation and they have to respond. Everybody has to respond but no one is in worse shape than the NASDAQ. There is a chance they could get swept away in this," Gasparino continued.
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