NEW YORK - Nasdaq and IntercontinentalExchange handed directly to the shareholders of the parent company of the New York Stock Exchange in its bid not sought to acquire the owner of the Exchange.
On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. (ICE) has published a letter to the shareholders of NYSE Euronext, saying that the NYSE Board is rushing them to a vote without exploring better alternatives. The two exchanges hope that shareholders will put pressure on the NYSE to examine the Nasdaq and Intercontinental bid for NYSE Euronext, which is approximately $ 11 billion.
The parent company of NYSE rejected twice of the joint bid of the Nasdaq and the ice by saying: it is committed to its merger previously agreed to 10 billion dollars with the operator Deutsche Boerse German exchange, despite the lower price. NYSE shareholders are scheduled to vote in early July on the merger with the German company.
Frameworks of Nasdaq and ice have expressed disappointment that NYSE refused to even meet with them to take account of their public offer higher purchasing. They have also started an exchange offer to jointly acquire all the outstanding shares of NYSE Euronext for $ 11 billion.
They hope to build on the contentious annual meeting the NYSE on April 28, where said shareholders concerned about the fact that the NYSE Board was not the highest purchase tender considering.
The letter sought to put the focus on the regulatory challenges facing the transaction of Deutsche Boerse in Europe. She cited Dominique Cerutti, deputy CEO of NYSE Euronext, who said that it would take until March 2012 to win regulatory approval of the European Union.
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