NASDAQ CEO jure hostile bid for NYSE in "weeks"

CHICAGO - Nasdaq OMX Group Executive Director Robert Greifeld, unbowed after NYSE Euronext twice its purchase offer was rejected, is pressing forward with an offer to purchase hostile to Big Board parent, promising to offer to purchase in the weeks.

Greifeld Tuesday, said that the offer is "probably still a few weeks."

Earlier this month, Nasdaq and ice said they planned to take their bid directly to shareholders in a public offer to purchase.

NYSE shareholders are scheduled to vote on the agreement of Deutsche Boerse July 7 under a chronology which said NYSE is designed to conform to the German law on mergers and acquisitions.

But suggested Greifeld is zero hand close to give up. "We are here for the end of game," he said.

Board of Directors of the NYSE has refused to meet with Nasdaq and IntercontinentalExchange Incto discuss their offer, paste instead with an agreement for a friendly merger with Deutsche Boerse AG.

NYSE Chief Executive Officer Duncan Niederauer reiterated its commitment to the transatlantic agreement Tuesday by saying: "the sky is the limit" of the value of the agreement creates for the shareholders of NYSE.

Companies entirely will deliver promised savings and additions of revenues, he said, and spoke companies with regulatory agencies have kept on track for completion of the end of the year.

But NYSE has a duty to speak on the Nasdaq and ice, which deal with NYSE values to $ 1.3 billion more than Deutsche Boerse, Greifeld said in the slides presented at a UBS financial services Conference in New York on Tuesday.

Greifeld and ice CEO Jeffrey Sprecher, who first proposed to buy NYSE on 1 April, called on several occasions shareholders NYSE request NYSE at least have with them, most recently a letter suggested Monday shareholders NYSE are being "swept" into a lower deal.

The competing offer would be split NYSE Euronext in two, with Nasdaq NYSE equities and acquisition business options equities of 4.9 billion of dollars in stock and cash and ice acquire his unit of futures based at London Liffe, 6.3 billion in stock and cash, in accordance with a deposit of ice/Nasdaq.

Liffe is "full and fair", but the mix of stock and cash may be adjusted if NYSE Euronext engages in negotiations, ICE Sprecher said at UBS Conference.

NASDAQ is working "rapidly" clear antitrust hurdles with the U.S. Department of Justice, Greifeld said on Tuesday. The combination of NYSE and Nasdaq would create a monopoly in the Affairs of stock-list American, and the Department of justice would probably ask for some "adjustments", Greifeld said.

These concessions would not change the business plan basis for the merger, he a said, adding that it expected increased surveillance of U.S. Securities and Exchange Commission and the competition from smaller managed if the combination should be approved.

NASDAQ and ICE offer includes a payment of 350 million dollars to shareholders should antitrust authorities block the deal.

Agreement of the NYSE with Deutsche Boerse has no such fee, even if it is confronted with an intensive review of European regulators over what would be a near-monopoly in the future trading from London to Frankfurt.

The work of Deutsche Boerse Council refused to support the proposed merger.

NASDAQ, ice seek support for the candidature for NYSE

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.

Wall Street pares gains, in turn negative Nasdaq (Reuters)

NEW YORK (Reuters) - shares American pared gains and the negative turned Nasdaq Monday, pressured by the weakness of technology shares.

Stocks opened higher after President Barack Obama announced that the leader Al Qaeda Osama bin Laden had been killed in a gunfight with U.S. forces and as an avalanche of investors cheered offers proposed.

Microsoft Corp. (MSFT).(O), a Dow component, fell by 1.7% to $25.57, while Applied Materials (AMAT.)(O) fell 3.4%, 3: 00 pm $15.

The Dow Jones industrial average (.)(DJI) increased increased 21.49 or 0.17%, to 12,832.03 points. The Standard & Poor 500 Index (.)(SPX) increased increased 1.77 points, or 0.13 per cent, to 1,365.38. Nasdaq Composite Index (.)(IXIC) was 1.15 points, or 0.04%, to 2,872.39.