Nasdaq OMX Group and IntercontinentalExchange responded late Sunday to NYSE Euronext's rejection of their joint proposed bid, reaffirming that their cash and stock offer is superior to the offer submitted by rival Deutsche Boerse AG. "The feedback we have received from NYSE Euronext stockholders is very positive, and we would expect NYSE Euronext would, at the very least, meet with us and our advisors to discuss the merits of the proposed combination," Robert Greifeld, Chief Executive Officer of Nasdaq, said in the statement.NYSE on Sunday said it was sticking with its deal with Deutsche Boerse, calling the rival offer from Nasdaq OMX Group too risky and counter to the Big Board's vision.The NYSE board's decision smacks the ball back in the court of Nasdaq, which with partner IntercontinentalExchange Inc will have to decide whether to appeal directly to NYSE shareholders, raise the $11.3 billion bid, or walk away.Perhaps setting the tone for what could be a drawn-out bidding process, NYSE Euronext Chief Executive Duncan Niederauer criticized Nasdaq's unsolicited bid as hollow and undefined, saying it would unacceptably carve up his transatlantic exchange operator.
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