Thursday 24 February 2011

gulfnews : Nasdaq considers NYSE bid in new twist to exchange deal dash

Nasdaq OMX Group Inc could launch a rival bid for NYSE Euronext to avoid being left on the sidelines, a source said, as traditional exchanges race to merge to see off upstart electronic rivals.

This is one option Nasdaq, valued at $5.7 billion, (Dh20.96 billion) is considering as a spate of deals shakes up an industry under intense cost pressure from new entrants such as BATS Global Markets, which last week snapped up rival Chi-X.

Nasdaq's alternatives include tying up with IntercontinentalExchange Inc or the Chicago Mercantile Exchange (CME) to wrest NYSE from its planned $10.2 billion takeover by Deutsche Boerse, the source familiar with the matter said.

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