NYSE Euronext again rejected the Nasdaq bid for OMX and ICE

The company NYSE Euronext, which operates the New York Stock Exchange announced that its board unanimously rejected the sweetened offer of purchase by its rival Nasdaq OMX and Intercontinental Exchange (ICE) and reaffirmed its commitment to merge with Deutsche Boerse (DB .)

The council has recently reviewed the information offered by Nasdaq and ICE regarding the proposal and concluded that this offer is basically the same as that previously refused, said NYSE Euronext Chairman Jan-Michiel Hessels, in a statement press.

Two days ago the American group Nasdaq OMX and ICE decided to improve the offer to purchase the park managers denied New York April 10, adding another 350 million dollars to the 11,300 originally proposed and thus assume the risks associated with the regulatory aspects the transaction.

However, Hessels said today that both the initial and improved offers do not provide compelling value, have an unacceptable risk of execution and, consequently, do not respond to the interests of the shareholders of NYSE Euronext.

Therefore, the president of the manager of the New York Stock Exchange reaffirmed that the merger with Deutsche Boerse (which operates the Frankfurt stock exchange) creates significantly more value for shareholders.

He also recalled that the company born of the combination of these two companies will be the largest financial market in the world.

That merger would create financial strength, flexibility in the balance and synergy potential to create growth in both profits and revenues in the new company and product innovation, said Hessels.

With those words, again rejecting the proposed NYSE Euronext their American competitors, which began on April 1 made a fight for New York with the floor rising up to 11 300 million dollar merger offer from the German, of 10,200 million.

The response from Nasdaq and OMX ICE has been swift and disseminated shortly after the release of NYSE Euronext these two companies responded to this rejection is based on vague generalizations that are not argued by facts.

Both returned to ask the NYSE to meet with them to explain their proposal.

Discuss this with us only provide benefits to its shareholders, said the CEO of Nasdaq OMX, Robert Greifeld, adding that continually refused to review (the proposal) is beginning to look as if they were protecting their agreement (with Deutsche Boerse ) instead of responding to the best interests of its shareholders.

Thus, Greifeld said Nasdaq OMX or ICE or go to discourage attempts by the council to protect a lower transaction.

In that statement recalled that U.S. companies based on closing prices on the stock exchange on 20 April, the offer of $ 42.69 per share is 15% higher than the merger agreement with Deutsche Boerse for $ 37.26 per share.

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