FBN’s Charlie Gasparino reports that NASDAQ is “facing difficulty” in their talks to make a hostile bid for the New York Stock Exchange as a result of “the breakup fee; which people say is 13 billion dollars.” Sources tell Gasparino people inside the New York Stock Exchange “are feeling pretty confident” and have “serious doubts that the NASDAQ will ever be able to break this up with the IntercontinentalExchange, Inc. (ICE) or the CME Group Inc. (CME).”
Excerpt from the report ; courtesy of Fox Business Network.
On NASDAQ’s attempt to make a hostile bid for the NYSE:
“FOX Business Network has learned the bid to break it up has hit a roadblock. They are facing difficulty over the breakup fee; which people say is 13 billion dollars to break up that deal. In order to break it up they thought initially they would have to come up with 11 billion. People inside the New York Stock Exchange are feeling pretty confident. Sources close to the matter say they have serious doubts that the NASDAQ will ever be able to break this up with the ICE or the CME. Sources are telling FOX Business Network there is going to be an announcement in the new couple of days as to which way this is going.”