Nasdaq Pulled Out of Bid for NYSE Due to Threat of Lawsuit from DOJ: Report

Charlie Gasparino reports Nasdaq (NDAQ) pulled out of the 11 billion dollar bid for New York Stock Exchange [NYSE] because the Department of Justice [DOJ] informed them this morning that they were “prepared to sue the NASDAQ-ICE if it did not withdraw its bid.” Gasparino reports that the DOJ believed the “NASDAQ-NYSE combination would have constituted a monopoly.” Excerpt from the report, courtesy of Fox Business Network.

On why Nasdaq pulled out of the 11 billion dollar bid for NYSE:
“The DOJ says it was prepared to sue the NASDAQ-ICE if it did not withdraw its bid. The DOJ informed the NASDAQ-ICE of this this morning. Also, the DOJ believed the NASDAQ-NYSE combination would have constituted a monopoly.”