NEW YORK (Reuters) - NYSE Euronext (NYX).(N) Directors rejected as too risky value and lack an offer to purchase sweet of the Nasdaq OMX Group (NDAQ).(O) and IntercontinentalExchange (Ice.N), the second time in 11 days the Commission supported a lower of Deutsche Boerse AG the Germany (DB1Gn.DE).
This week revised bid "is substantially the same thing that was already rejected," NYSE Euronext Chairman Jan - Michiel Hessels said in a statement.
In language similar to first reject the Commission of 10 April, Hessels said the new offer "" does not force value, unacceptable risk of execution and is therefore not in the best interests of the shareholders of NYSE Euronext.""
Although the decision was expected, it could also pave the way for a war of auction, and it reinforces the need for Nasdaq and ice to convince shareholders NYSE that their proposal can survive a difficult U.S. review.
Hours after the decision of the Board, Nasdaq and ice issued a statement repeating that their bid was superior and that they would continue to direct discussions with shareholders.
"Nasdaq OMX and the ice met directly each of the specific concerns raised initially by the Board of NYSE Euronext and their response is now vague generalities unsupported by actual facts, trade has."
The NYSE Board reaffirms its support for a friendly purchase offer from Deutsche Boerse $ 9.8 billion. Although it is 14% less than $ 11.2 billion unsolicited offer on Nasdaq and the ice, NYSE Euronext maintains that it integrates with the company's strategy to expand internationally with more diverse revenue.
On 1 April, NASDAQ and ice bid for the parent company of New York Stock Exchange. Tuesday, they promised to pay NYSE Euronext 350 million dollars if regulators blocked a merger - a guarantee intended to facilitate antitrust concerns of the Commission and draw them to the negotiating table.
The pair - that have been left a wave of global plans of merger between exchanges earlier this year - said that they attached funding committed to the banking market and said antitrust regulation would soon start a review.
COMMANDS FARMS
The battle for the Grand Council has grown more bitter, and its outcome could reorganize the ownership of a large number of the largest market in Europe and the United States operators.
Both offers face tough regulatory reviews on both sides of the Atlantic, complicate matters for investors betting on an organization that offers, if any, will prevail.
While the NYSE Chief Executive Officer Duncan Niederauer said competing Monday tried to disrupt, distract and discredit his business, CEO of Nasdaq Robert Greifeld said Wednesday he will consider "all options available" as he and ICE continue NYSE to "final".
"They are both continuing their strategies and at the moment, you are seeing the NYSE Commission firm, said Richard Repetto, analyst with Sandler O'Neill." "" "But if you take Greifeld to his word, and there is no reason, it is in it for the long term."
Greifeld - as known as a deal maker-aggressive - Niederauer said Thursday that the ice and it would be not to "discourage the Commission attempts to protect a lower transaction."
In a separate statement, Deutsche Boerse said that it moves ahead with planning for integration. He called Nasdaq and ICE proposal "lack of business logic" and "a large step backward in the evolution of the global exchange industry."
NYSE shareholders are set to meet April 28 for their annual vote on directors of the company. "The way the vote goes will be a modest referendum on how shareholders will feel about the decisions of the Commission", said Repetto.
Shareholders likely will vote on the docking of Deutsche Boerse in July.
(Reporting by Jonathan Spicer.) Reports by Clare Baldwin and additional Paritosh Bansal. (Editing by Robert MacMillan, Gary Hill)
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