Tuesday 28 June 2011

The battle for NYSE becomes political

NASDAQ, which houses like corporate America Google greater technology, and the ice, the owner trade term for products $42.5 per share for the NYSE last Friday.

The comment by Michel Barnier, Commissioner of the European Union for markets, between days after Nasdaq OMX and InterContinental Exchange (ICE) joined forces to win on a bid for NYSE Euronext, owner of older Scholarship America, existing of Deutsche Boerse the Germany.


"We want financial centres of Europe to be strong, with a global dimension and to play their role," said Mr Barnier, a former French Minister of Foreign Affairs.


NASDAQ, which houses like corporate America Google greater technology, and the ice, the owner trade term for products $42.5 per share for the NYSE last Friday. Deutsche Boerse had offered $ 35 per share in February. NYSE said that considering the submission of the Nasdaq and the ice, Deutsche Boerse knows wait to see this response before deciding to raise its offer.


The agreement is later in a swirl of bids and counter-bids in the industry of the Exchange as a mixture of financial pressures and globalization requires the industry to consolidate.


Bob Greifeld, leader since a long time the Nasdaq, said last week that the Nasdaq bid will bring more benefits to the American economy and also save state of New York as a financial centre.


Submission of Deutsche Boerse caused little political protest to the United States when it has, but analysts have suggested that the emergence of a rival offer domestic can change that.


Shares of NYSE Euronext closed 0 62pc to $38.98.


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