US exchanges Nasdaq and ICE have mounted a $11.3bn (£7bn) bid for NYSE Euronext, topping a previous offer from Deutsche Boerse. The bid evaluates with Deutsche Boerse’s that offers $10.2bn. But the move could raise antagonistic queries , as it would bring together the two largest US stock exchanges.
The Deutsche Boerse bid itself is also likely to raise regulation issues, as a deal would create a massive presence in certain European financial products. The Deutsche plan has also attracted political opposition from those against the idea of a foreign company taking over a Wall Street brand.
This new offer, valued at $42.50 per share, is 27% above the company’s valuation before Deutsche Boerse’s initial bid in February. ICE, an Atlanta-based futures predictor, is interested in NYSE’s derivatives business while Nasdaq would like the stock exchanges and options businesses. NYSE’s stock surged 12.6%, ICE lost 3.1% while Nasdaq OMX rose 9.3%. NYSE Euronext said its board would carefully review the new offer and recommended that shareholders should take no action in the course of its review.