Charlie Gasparino reports that Deutsche Börse and the New York Stock Exchange are presenting a “sweetened deal” to shareholders in order to “prevent the ICE (ICE) and NASDAQ (NDAQ) from being successful in their bid for the New York Stock Exchange.” Gasparino reports that the NYSE/DB deal is “still a 60/40 split” but says the companies will offer increased dividends and buy backs to block another bid. Excerpt from the report, courtesy of Fox Business Networks.
On how Deutsche Börse and New York Stock Exchange are changing their pricing:
“What you have right now is a sweetened deal by the Deutsche Börse and New York Stock Exchange to their shareholders to prevent the ICE and NASDAQ from being successful in their bid for the New York Stock Exchange. The ICE bid had a 30% premium to the deal on the table. They are coming back right now and saying if this deal comes through shareholders, lets increase dividends, let’s do some buy backs, lets sweeten this up. They are not changing the exchange offer. It’s still a 60/40 split. For every share of New York Stock exchange you get .47 in the new company. For every share of Deutsche Börse you get one share in the new company.”
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