NEW YORK (Reuters) - Nasdaq OMX Group Inc. and IntercontinentalExchange withdrew their bid hostile to 11.3 billion for the competitor NYSE Euronext Monday, citing the opposition of U.S. antitrust regulators.
The withdrawal of the offer removes an obstacle to NYSE Euronext plans to sell to Deutsche Boerse AG to $ 9.9 billion.
The agreement with Deutsche Boerse still must win regulatory and approval of the shareholders in Europe and the United States, but investors said the chances of the merger through now greatly improved.
"For me, it's a clear signal that Deutsche Boerse offers will go forward,", said Juergen Meyer of SEB Asset Management Fund Manager, who is the owner of the shares of Deutsche Boerse. "This is what I expect, actually."
In a statement, the Ministry of Justice of the United States said that if Nasdaq-ICE submission had not been abandoned, it would have filed an action to arrest him.
NYSE shares fell 10.4% while Deutsche Boerse has increased by 4.1% after the news of the decision of Nasdaq-ICE. NYSE shares were traded on $36.65, closest to the implicit of $37.79 by the Deutsche Boerse share price deal.
NASDAQ was up 1% and the ice was an increase of 5.8%.
The withdrawal of the candidature of Nasdaq-ICE leaves Nasdaq looking for its next move. It might look like Singapore Exchange and the London Stock Exchange Group of agreements with other exchanges.
"They need to continue to run a strong operation." They also need to keep eyes on the horizon for all strategic opportunities. ", said Keith Wirtz, investment officer head the fifth third Asset Management, which has 18 billion dollars in assets and owns more of 60,000 shares of Nasdaq.
NASDAQ must further agreements that provide growth, especially in derivatives and Asian markets, said Wirtz.
"They need to ensure that they have their capital prepared war chest", he added.
In a statement, CEO of Nasdaq Bob Greifeld said his company was "surprised and disappointed" with the decision taken by the Ministry of Justice of the United States anti-trust regulators.
Greifeld said that it has become obvious that regulators would not give the go-ahead for a deal despite the Nasdaq and the ice offering a variety of remedies for antitrust issues.
Combining the Nasdaq and the NYSE would be brought together the top two U.S. stock exchanges, creation of a monopoly on lists and dominance in the options and the trade of U.S. Treasury shares.
The Ministry of Justice, in his statement, said, "the acquisition would substantially eliminated competition for stock corporate services, listing." opening and closing auctions stock services, trade stock-exchange reporting services and products data real-time equity exclusive
Other transactions in the frenzy of consolidation of recent global trade have also run into trouble on the interest national or regulatory concerns.
Singapore Exchange last month had to abandon his principal of the Australia agreement with exchange after it has been rejected for reasons of national interest.
More recently, bid for the LSE to buy the TMX Group struck the waters choppy after a group of banks and pension funds has come up with a proposal for a counter for the operator to Exchange in Ontario, touting the benefits of such an agreement in the Canada.
"Much like the airlines national and other things that are sovereign by nature, he y lot of politics involved in these exchanges," said Wirtz.
NYSE-D.DEAL BOERSE
NASDAQ and the ice first offered to buy the New York Stock Exchange from the parent, on 1 April seeking to thwart the NYSE Euronext with Deutsche Boerse friendly agreement, announced in February.
NYSE Chief Executive Officer Duncan Niederauer refused to talk about their offer of Nasdaq and the ice, but some shareholders NYSE thought it should.
Investors are now likely to support the decision of the NYSE.
"I doubt that we will see the shareholders require elevation.". "I think that will rely on the opinion of the Commission at this stage," said Wirtz, whose firm also owns more of 160 000 shares of NYSE.
The offer of Nasdaq-ICE would be split NYSE Euronext: Nasdaq would have acquired the NYSE equities and options equities and ICE business would have bought his unit based at London Liffe futures.
Board of Directors of the twice rejected the unsolicited offer NYSE, and Nasdaq said earlier this month here than ice, and he would go directly to the shareholders of NYSE with a hostile bid.
NYSE acknowledged the withdrawal of the proposal by Nasdaq-ICE Monday.
Deutsche Boerse has also acknowledged the decision of the Nasdaq and said it would "continue with the process of NYSE Euronext deal."
(Other reports by Edward Taylor and Christoph Steitz Frankfurt;) (Editing by Lisa Von Ahn and John Wallace)
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