NASDAQ OMX and IntercontinentalExchange withdraw their proposal to acquire NYSE Euronext
19 May 2011
The NASDAQ OMX Group and IntercontinentalExchange announced that following discussions with the US Department of Justice, they are withdrawing the proposal to acquire NYSE Euronext, and will not commence the exchange offer to acquire all of the outstanding shares of NYSE Euronext.
NASDAQ OMX CEO, Bob Greifeld, said: 'While we are surprised and disappointed in the Antitrust Division's conclusion, some of the uncertainty, at least as it relates to our Joint Proposal, has been resolved".
ICE Chairman and CEO, Jeffrey C Sprecher, said: "We appreciate the strong support of our investors as we made an opportunistic and disciplined move to pursue an attractive combination that would preserve competition in the European derivatives markets. We will maintain our strong focus on the many initiatives we have underway to continue our track record of delivering industry-leading growth and returns for our customers and stockholders. Amid this transaction, we announced the formation of our Brazilian energy market partnership known as BRIX, the launch of 68 new products, and we reported the best quarter in the company's history. I also want to acknowledge the consideration shown by NYSE Euronext stockholders for our joint proposal, which was undertaken with seriousness and a concern for the evolving global market structure. We will continue to seek opportunities that benefit our customers and stockholders, and that leverage our unique global market infrastructure in commodities, derivatives and clearing."
© Nasdaq
