Nasdaq OMX Group (NDAQ 28.41, +0.39, +1.39%) is pitting CME Group (CME 313.55, +8.99, +2.95%) Inc. and IntercontinentalExchange Inc. against each other in an attempt to decide which company would give the Nasdaq Stock Market parent the best shot at making an attractive bid for rival exchange NYSE Euronext (NYX 37.00, -0.02, -0.05%) 's stock-trading business, according to people familiar with the matter.
Nasdaq has been wrestling with what to do in response to this month's agreement by NYSE Euronext to be acquired by Deutsche Börse (DE:DB1 56.27, +1.44, +2.63%) AG in a deal valued at about $10 billion. If that deal goes through, Nasdaq would be far smaller than the newly combined rival company.
The electronic stock-exchange operator is looking for an ally because it doesn't have the buying power to derail the Deutsche Börse-NYSE Euronext deal on its own. The discussions at Nasdaq include which potential partner would help it put together the strongest bid and give Nasdaq the least-expensive shot at NYSE Euronext's stock-listings business, according to people familiar with the situation.
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