Fox Business Network”s Charlie Gasparino reports that talks of a hostile takeover of the New York Stock Exchange between NASDAQ (NDAQ) and the Intercontinental Exchange (ICE) are “progressing rapidly.” Gasparino has learned both the NASDAQ and ICE “are turning to ratings agencies to get their blessing for a potential bid on the New York Stock Exchange.”
Excerpts from the report can be found below, courtesy of FBN
On how the NASDAQ is responding to the deal between the NYSE and Deutchse Boerse:
“I never thought these NASDAQ-ICE talks about a potential hostile takeover for the New York Stock Exchange would progress but it is progressing rapidly. Sources tell the FOX Business Network it is progressing to the point where both are turning to ratings agencies to get their blessing for a potential bid on the New York Stock Exchange. They believe if they do something like this it would be an 11 billion dollar deal to outmatch Deutchse Boerse. They are going to the ratings agencies to get their blessing. It looks like the NASDAQ and the ICE are going to do this.”
On why NASDAQ is considering this hostile takeover of the NYSE:
“Sources tell the FOX Business Network NASDAQ officials realize that exchange cannot exist solo. They are done as a solo entity. This is a pretty radical attempt to try to get back in the game and break up this deal.”
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