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Monday, March 14, 2011

Nasdaq nears rival bid for NYSE -source, (NYSE: NYX), (NYSE: ICE), (NYSE: BAC)

Nasdaq OMX Group Inc NDAQ.Q is preparing an offer for NYSE Euronext (NYX.N) and the bid could come as early as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter. Under the proposed deal to counter Deutsche Boerse AG's (DB1Gn.DE) more than $9 billion offer for NYSE, Nasdaq would finance the transaction with up to $5 billion in debt and sell NYSE's Liffe derivatives business to IntercontinentalExchange Inc (ICE.N), the report said. Earlier on Monday, deal publication DealReporter reported Nasdaq is in advanced talks with lenders about funding a hostile bid. The exchange operator would finance the bid with about $5 billion in debt from banks led by Bank of America Corp (BAC.N) and $5 billion in asset sales, DealReporter said.

Source