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“It was black and white. There was nothing we could do to get the deal done.” Those words from an architect of Nasdaq OMX Group and IntercontinentalExchange's unsolicited bid for the NYSE Euronext after a meeting between the management of those companies and the DOJ’s anti-trust division confirmed what many had believed on the day the bid was announced (April Fool’s Day).
Jimmy Dunne, senior managing principal of Sandler O'Neill, favors NYSE Euronext's merger with Deutsche Boerse over the hostile offer made by Nasdaq and ICE, he told CNBC Thursday.
Nasdaq on Monday announced its much anticipated exchange offer for the NYSE, but it didn’t change the terms of its offer in any way…leaving many with a big yawn.
Two-plus months into the war waged over the New York Stock Exchange, and the participants are gearing up for a key battle: what to call it.
NYSE Euronext Chairman Duncan Niderauer again blasted Nasdaq's and Intercontinental Exchange's newest offer for the stock exchange company Wednesday.
The somewhat improbable, though long-awaited bid from Nasdaq and ICE came Friday with the desired effect. It sent shares of the NYSE up sharply (not to mention shares of the Nasdaq) and has changed the dynamic. Anyone expecting a swift resolution of this contest, however, is likely to be disappointed.
There’s an air of paranoia on Wall Street about today’s NYSE spacer deal with the Germans. But history suggests it’s unjustified. Inevitably, the new business unveiled today will also be shaped over time by changing needs.
The "Mad Money" host explains why these takeovers are happening and what it suggests about the market.