CHICAGO (Reuters) - Nasdaq OMX Group (NDAQ).(O) and IntercontinentalExchange Inc. (Ice.N) appealed directly to the NYSE Euronext (NYX).(N) shareholders on Tuesday, asking them to directors of the Grand Council to sit down to talk about their joint press bid.
Open letter to the shareholders of NYSE Tuesday is the latest salvo in the effort of Nasdaq and ice to win support for their support of the operator of the New York Stock Exchange, Nasdaq said would reduce the fragmentation of the market without stimulating the costs.
Directors of NYSE Euronext last Thursday rejected an offer to purchase sweet NASDAQ and ice, preferring to stick to their agreement with Deutsche Boerse AG (DB1Gn.DE) for taking control friendly. NYSE directors have not met the CEO of ice or the Nasdaq, who say that their proposal is better than both financially and strategically.
"As shareholders of NYSE Euronext, which would choose you - commitment on a superior financial proposal, or a story about why a lower transaction really is"superior "?". NASDAQ CEO Bob Greifeld and ice CEO Jeffrey Sprecher said in the open letter.
"Simply, your Council ignores the best practices of governance and the reality of the market situation."
A U.S. antitrust review is already running, the letter said.
NYSE shareholders should call on their directors to meet the Nasdaq and CEO of ice to meet concerns and start mutual due diligence, they said. Such a meeting does not pose "any downside risk and only upside to shareholders", they said.
NYSE Euronext, which runs stock and futures markets to the United States and in Europe, offered some nuggets more Tuesday to shareholders to decide which, if it is, of the proposed treaty will succeed.
Conditions of the offer of Deutsche Boerse lower could be sweetened than to offer more value, but all changes are most likely closer to July, when the NYSE Euronext shareholders vote on the proposal, a spokesman for the company said on Tuesday.
The spokesman confirmed that CEO Duncan Niederauer sees the Nasdaq and ice not provide serious and another meant "just to spoil our proposal," as indicated on the website of the Wall Street Journal.
Niederauer also told the paper that Deutsche Boerse and NYSE Euronext decided to merge their various platforms in a global platform, once merged.
The battle for the parent of the iconic Grand Council turned to convince shareholders and regulatory agencies, which are supposed to do an in-depth antitrust review of both sides of the Atlantic.
To this end, Nasdaq earlier on Tuesday said that it cut costs for companies listed on the NYSE if successful bid.
NASDAQ would reduce the maximum ceiling of fees paid by companies listed on the NYSE at $450,000, $ 500,000 at the present time, "which leads to immediate economies of many companies of NYSE", he said in a letter filed with the Securities and Exchange Commission.
Companies listed on the NASDAQ would see their fees unchanged, he said in a separate letter.
NYSE directors say the NASDAQ would be too risky and would be less long-term value.
NYSE shareholder vote on the administration of Thursday.
(Report by Ann Saphir; additional reports by Jonathan Spicer;) Editing by Gerald e. McCormick, Tim Dobbyn, Gary Hill)
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