US stock exchanges Nasdaq and ICE are dropping their $11.3billion bid for rival NYSE Euronext. The two exchanges concluded the proposed occupation would not be approved by US regulators. NYSE Euronext had already rejected the unwanted bid for the same reasons previous month.
US stock exchanges
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.