Nasdaq Might Make a Counter Bid for NYSE - NBC New York

Nasdaq Might Make a Counter Bid for NYSE

    processing...

    NEWSLETTERS

    Meet Four Inspiring Kids Tackling Cancer
    AP
    The floor of the New York Stock Exchange.

    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.