("Nasdaq Attempt To Make Hostile Bid For NYSE Hits 'Road Block'
-Fox Business' Gasparino," published at 12.31 p.m. EST, incorrectly
referred to the breakup fee for the NYSE Euronext-Deutsche Boerse
merger. The correct version follows.)
Nasdaq OMX Group Inc. (NDAQ) is "facing difficulty" in its bid
to make a hostile offer for the New York Stock Exchange parent NYSE
Euronext (NYX), as the cost to disrupt NYSE's merger with
Frankfurt's Deutsche Boerse AG (DB1.XE) is too high, Fox Business
Network's Charles Gasparino reported Thursday.
It would take $13 billion for Nasdaq to break up the
NYSE-Deutsche Boerse merger, Gasparino said, adding that Nasdaq
previously thought it would take $11 billion.
Gasparino cited sources as saying that people within the NYSE
have "serious doubts" Nasdaq will be able to break the deal up.
He added that an announcement on which way the discussions are
going will be made in the next few days.
The proposed Deutsche Boerse merger has valued NYSE Euronext at
$10 billion, according to previous reports by the Wall Street
Journal and Dow Jones Newswires. The merger carries a breakup fee
of EUR250 million ($349 million).
Website: http://www.foxbusiness.com
-Dow Jones Newswires; 212-416-2900