Nasdaq and ICE cancel takeover offer for NYSE
NASDAQ OMX Group (NASDAQ:NDAQ) and IntercontinentalExchange (NYSE:ICE) said Monday that they are withdrawing their joint takeover bid for NYSE Euronext (NYSE:NYX) after discussions with US antitrust authorities did not go as planned.
"We took the decision to withdraw our offer when it became clear that we would not be successful in securing regulatory approval for our proposal despite offering a variety of substantial remedies, including the sale of the NYSE SRO and related businesses," said Nasdaq CEO Bob Greifeld.
Nasdaq and ICE launched their $11.3 billion bid for NYSE on April 1, attempting to thwart an earlier friendly merger proposal from Germany's Deutsche Boerse.
The two companies said in a statement today that they no longer planned to go directly to NYSE Euronext shareholders as their offer, which planned to split the New York-based exchange group in two, was rebuffed twice by the board.
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