NYSE Rejects Nasdaq-ICE Takeover Bid

Nasdaq and IntercontinentalExchange said their $11.3 billion bid for NYSE Euronext was rejected without any talks with the exchanges. Nasdaq OMX Group Inc. CEO Robert Greifeld said in a statement late Sunday that feedback from NYSE Euronext shareholders was positive, and that the companies had expected NYSE Euronext would meet with them to discuss the merits of their proposal. NYSE Euronext said earlier Sunday that its board decided to turn down the offer, which was submitted earlier this month, because it was "highly conditional" and would have caused unnecessary risk for shareholders. Instead NYSE Euronext, parent of the New York Stock Exchange, is sticking with its plan to combine with German exchange operator Deutsche Boerse AG in a $10 billion deal.

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