Nasdaq Might Make a Counter Bid for NYSE

Tuesday, Mar 15, 2011  |  Updated 7:30 PM EDT
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AP

The floor of the New York Stock Exchange.

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Nasdaq OMX, the parent company of the Nasdaq Stock Market, has moved closer to making a competing bid for the New York Stock Exchange, according to a published report.

The Wall Street Journal, citing people familiar with the matter, reported that Nasdaq was in talks with banks including Bank of America Corp. to line up financing for a bid that could include up to $5 billion in debt. The proposal could come within 48 hours.

Nasdaq is counting on the Atlanta-based derivatives market Intercontinental Exchange Inc. to purchase the parts of NYSE's parent — NYSE Euronext — that Nasdaq can't afford.

Deutsche Boerse, the owner of the Frankfurt stock exchange, has said it will buy NYSE Euronext for about $10 billion

Nasdaq OMX Group Inc. and InterContinental Exchange declined comment.

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