NYSE Euronext chose its deal with Deutsche Boerse AG over a higher, rival takeover offer from Nasdaq OMX Group and IntercontinentalExchange Inc, dealing the latest blow in what could be a drawn-out bidding process. NYSE Euronext's directors found the $11.3 billion (6.8 billion pounds) bid from Nasdaq and ICE "strategically unattractive, with unacceptable execution risk", the exchange operator said in a statement on Sunday.The parent of the New York Stock Exchange said the friendly, $10.2 billion deal with Germany's Deutsche Boerse announced in February is in shareholders' long-term interest, and "significantly more likely" to be completed. A merger would create the world's biggest exchange operator.It is unclear how Nasdaq and ICE will respond to the rejection, and whether they might submit a new bid or take their earlier offer directly to NYSE Euronext shareholders.Representatives of Nasdaq and ICE did not immediately return calls and e-mails seeking comment.
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