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.”

Create Content With AI

Risk Our Money Not Yours | Get 50% Off Any Account

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.