'Reaffirming the Seriousness of its Offer', NASDAQ & ICE Take Unsolicited Bid to NYSE Shareholders (NDAQ, ICE, NYX)

Looking to "Reaffirm [the] seriousness of its offer and continued willingness to enter into discussions," NASDAQ OMX

and IntercontinentalExchange

announced Monday that it would take its unsolicited offer to buy NYSE Euronext

directly to shareholders. "NASDAQ OMX and IntercontinentalExchange (

) today announced that each of their respective Boards of Directors have approved their intent to commence an exchange offer to acquire all of the outstanding shares of NYSE Euronext common stock in a cash and stock transaction valued at approximately $11 billion." NASDAQ and ICE are in a protracted battle with Deutsche Boerse to win a deal with the exchange. NYSE executives have made it clear they prefer the lower Deutsche Boerse offer because there is allegedly less risk invovled. ICE Chairman and CEO Jeffrey C. Sprecher said: "The Board of NYSE Euronext has twice rejected our superior proposal without meeting with us, despite the fact that their existing merger agreement with the Deutsche Boerse allows them to talk with us. While we are hopeful that the Board will decide to consider this transaction, we are taking our proposal to NYSE Euronext stockholders upon the commencement of this exchange offer to provide the opportunity to consider our proposal directly." This exchange offer follows an initial public proposal made by NASDAQ OMX and ICE to the NYSE Euronext Board on April 1, 2011. NASDAQ OMX CEO Bob Greifeld said: "The NYSE Euronext Board has continually challenged the seriousness of our proposal and refused to engage us in discussion despite the positive feedback we have received from their stockholders. The commencement of this exchange offer should convince the NYSE Euronext Board of the seriousness of our intentions. We continue to welcome the opportunity to enter into meaningful discussion with the NYSE Euronext Board in order to achieve a transaction that is in the best interests of their stockholders." NASDAQ OMX Group, Inc. gained $0.02 on Monday, to close at $27.14. IntercontinentalExchange, Inc. fell $2.15 on Monday, or 1.8%, to $118.20. NYSE Euronext gained $0.35 to close at $40.40.