Dominion Lending Centres Clearlease Reports Nasdaq-ICE drops bid for NYSE, clears way for NYSE-Deutsche Boerse combo
VANCOUVER, BC – (May 16, 2011) Clearlease Reports Nasdaq and IntercontinentalExchange are withdrawing their proposed US$11-billion bid for the parent of the New York Stock Exchange after recognizing they would not receive regulatory approval for the transaction and could potentially face a lawsuit attempting to block the deal.
The decision clears an obstacle to NYSE Euronext Inc.’s previous $10-billion deal to combine with the German exchange operator Deutsche Boerse.
Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said Monday that they held unsuccessful talks with the antitrust division of the Justice Department about their joint bid for NYSE Euronext.
The Justice Department said it informed the companies the government would file an antitrust lawsuit to block the deal, as it believed the acquisition would have substantially eliminated competition for corporate stock listing services and other data products.
Shares of NYSE Euronext dropped $4.09, or 10 per cent, to $36.00 in morning trading. The Deutsche Boerse’s offer is lower and the withdrawal of the competing bid makes it unlikely that the German company will feel compelled to raise its bid.
Shares of Nasdaq OMX stock fell 21 cents to $26.70, while Atlanta-based IntercontinentalExchange gained $3.76, or 3.2 per cent, to $122.08.
Nasdaq OMX CEO Bob Greifeld said in a statement that the companies had offered a variety of “substantial remedies” to try to secure regulatory approval, including the sale of the NYSE Self-Regulatory Organization and its related businesses.
“While we are surprised and disappointed in the antitrust division’s conclusion, some of the uncertainty, at least as it relates to our joint proposal, has been resolved,” he said.
The announcement comes one week after Nasdaq and ICE reached out directly to NYSE Euronext shareholders, issuing a letter saying that the NYSE Euronext board was rushing a vote without exploring better alternatives.
The board had twice rejected the Nasdaq and ICE bid in favour of the Deutsche Boerse offer despite the lower price.
In a statement, Duncan Niederauer, CEO of NYSE Euronext, continued to tout the benefits of the existing transaction. “As we have consistently maintained, the combination with Deutsche Boerse creates the world’s premier exchange group — a geographically diverse business across multiple asset classes that will create compelling long term value for our shareholders.”
NYSE Euronext shareholders are scheduled to vote in early July on the deal with the German company.
Meanwhile, a group formed by four Canadian banks and five pension fund managers said during the weekend it is bidding $3.6 billion for TMX Group (TSX:X), owner of the Toronto Stock Exchange, Montreal derivatives exchange and other markets.
That bid is competing with a bid from the London Stock Exchange for Canada’s biggest stock platform, which itself has been subject to a great deal of scrutiny from regulators and lawmakers. The LSE bid has faced criticism from some Canadians who fear that foreign ownership of the TSX could threaten the stability of Canada’s capital markets.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC – (May 16, 2011) Clearlease Reports Nasdaq and IntercontinentalExchange are withdrawing their proposed US$11-billion bid for the parent of the New York Stock Exchange after recognizing they would not receive regulatory approval for the transaction and could potentially face a lawsuit attempting to block the deal.
The decision clears an obstacle to NYSE Euronext Inc.’s previous $10-billion deal to combine with the German exchange operator Deutsche Boerse.
Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said Monday that they held unsuccessful talks with the antitrust division of the Justice Department about their joint bid for NYSE Euronext.
The Justice Department said it informed the companies the government would file an antitrust lawsuit to block the deal, as it believed the acquisition would have substantially eliminated competition for corporate stock listing services and other data products.
Shares of NYSE Euronext dropped $4.09, or 10 per cent, to $36.00 in morning trading. The Deutsche Boerse’s offer is lower and the withdrawal of the competing bid makes it unlikely that the German company will feel compelled to raise its bid.
Shares of Nasdaq OMX stock fell 21 cents to $26.70, while Atlanta-based IntercontinentalExchange gained $3.76, or 3.2 per cent, to $122.08.
Nasdaq OMX CEO Bob Greifeld said in a statement that the companies had offered a variety of “substantial remedies” to try to secure regulatory approval, including the sale of the NYSE Self-Regulatory Organization and its related businesses.
“While we are surprised and disappointed in the antitrust division’s conclusion, some of the uncertainty, at least as it relates to our joint proposal, has been resolved,” he said.
The announcement comes one week after Nasdaq and ICE reached out directly to NYSE Euronext shareholders, issuing a letter saying that the NYSE Euronext board was rushing a vote without exploring better alternatives.
The board had twice rejected the Nasdaq and ICE bid in favour of the Deutsche Boerse offer despite the lower price.
In a statement, Duncan Niederauer, CEO of NYSE Euronext, continued to tout the benefits of the existing transaction. “As we have consistently maintained, the combination with Deutsche Boerse creates the world’s premier exchange group — a geographically diverse business across multiple asset classes that will create compelling long term value for our shareholders.”
NYSE Euronext shareholders are scheduled to vote in early July on the deal with the German company.
Meanwhile, a group formed by four Canadian banks and five pension fund managers said during the weekend it is bidding $3.6 billion for TMX Group (TSX:X), owner of the Toronto Stock Exchange, Montreal derivatives exchange and other markets.
That bid is competing with a bid from the London Stock Exchange for Canada’s biggest stock platform, which itself has been subject to a great deal of scrutiny from regulators and lawmakers. The LSE bid has faced criticism from some Canadians who fear that foreign ownership of the TSX could threaten the stability of Canada’s capital markets.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Nasdaq-ICE drops bid for NYSE, clears way for NYSE-Deutsche Boerse combo
VANCOUVER, BC – (May 16, 2011) Clearlease Reports Nasdaq and IntercontinentalExchange are withdrawing their proposed US$11-billion bid for the parent of the New York Stock Exchange after recognizing they would not receive regulatory approval for the transaction and could potentially face a lawsuit attempting to block the deal.
The decision clears an obstacle to NYSE Euronext Inc.’s previous $10-billion deal to combine with the German exchange operator Deutsche Boerse.
Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said Monday that they held unsuccessful talks with the antitrust division of the Justice Department about their joint bid for NYSE Euronext.
The Justice Department said it informed the companies the government would file an antitrust lawsuit to block the deal, as it believed the acquisition would have substantially eliminated competition for corporate stock listing services and other data products.
Shares of NYSE Euronext dropped $4.09, or 10 per cent, to $36.00 in morning trading. The Deutsche Boerse’s offer is lower and the withdrawal of the competing bid makes it unlikely that the German company will feel compelled to raise its bid.
Shares of Nasdaq OMX stock fell 21 cents to $26.70, while Atlanta-based IntercontinentalExchange gained $3.76, or 3.2 per cent, to $122.08.
Nasdaq OMX CEO Bob Greifeld said in a statement that the companies had offered a variety of “substantial remedies” to try to secure regulatory approval, including the sale of the NYSE Self-Regulatory Organization and its related businesses.
“While we are surprised and disappointed in the antitrust division’s conclusion, some of the uncertainty, at least as it relates to our joint proposal, has been resolved,” he said.
The announcement comes one week after Nasdaq and ICE reached out directly to NYSE Euronext shareholders, issuing a letter saying that the NYSE Euronext board was rushing a vote without exploring better alternatives.
The board had twice rejected the Nasdaq and ICE bid in favour of the Deutsche Boerse offer despite the lower price.
In a statement, Duncan Niederauer, CEO of NYSE Euronext, continued to tout the benefits of the existing transaction. “As we have consistently maintained, the combination with Deutsche Boerse creates the world’s premier exchange group — a geographically diverse business across multiple asset classes that will create compelling long term value for our shareholders.”
NYSE Euronext shareholders are scheduled to vote in early July on the deal with the German company.
Meanwhile, a group formed by four Canadian banks and five pension fund managers said during the weekend it is bidding $3.6 billion for TMX Group (TSX:X), owner of the Toronto Stock Exchange, Montreal derivatives exchange and other markets.
That bid is competing with a bid from the London Stock Exchange for Canada’s biggest stock platform, which itself has been subject to a great deal of scrutiny from regulators and lawmakers. The LSE bid has faced criticism from some Canadians who fear that foreign ownership of the TSX could threaten the stability of Canada’s capital markets.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk