The board of NYSE Euronext (NYX) on Thursday again rejected a proposal from Nasdaq OMX Group Inc. (NDAQ) and IntercontinentalExchange Inc. (ICE) to buy and split the exchange company.

NYSE Euronext's board unanimously reaffirmed its commitment to the standing deal with Deutsche Boerse AG (DB1.XE), saying that an improved offer from ICE and Nasdaq this week was "substantially the same" as a previously rejected proposal.

"Consequently, our view has not changed," said NYSE Euronext Chairman Jan-Michiel Hessels in a statement. "This proposal does not provide compelling value, has unacceptable execution risk and is therefore not in the best interests of NYSE Euronext shareholders."

On Tuesday, ICE and Nasdaq added a reverse breakup fee to their proposal alongside committed financing from a roster of banks that is good for 12 months.

-By Jacob Bunge, Dow Jones Newswires; 312-750-4117; jacob.bunge@dowjones.com.

 
 
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