- NEW YORK: A merger between NYSE Euronext for Nasdaq OMX would be strategically unattractive and has “insurmountable antitrust problems,” a source close to the Big Board said.
A counter bid by NYSE for Nasdaq is “absolutely not under consideration,” the source close to NYSE said, knocking down a media report earlier this week that the exchange operator was considering such a move.
Nasdaq and IntercontinentalExchange unveiled a bid to buy NYSE Euronext for about $11.3 billion in cash and stock last week, in an attempt to top an offer made by German competitor Deutsche Boerse.
Such a deal, if it could be completed, would lead to massive job losses in New York City and destroy value for NYSE Euronext shareholders, the source said, declining to be named because the talks are not public.