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Nasdaq Drops NYSE Takeover Bid

Talks with regulators show deal would not gain antitrust OK; way cleared for Deutsche Bourse.

By Nandini Sukumar | Updated on May 16, 2011

Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. pulled their bid for NYSE Euronext after talks with U.S. regulators showed they wouldn’t secure antitrust approval, clearing the path for Deutsche Boerse AG.

NYSE Euronext agreed to be bought by the Frankfurt-based bourse on Feb. 15, a merger that would create the world’s largest exchange operator. The NYSE board twice rejected a rival proposal from Nasdaq and ICE, saying the unsolicited offer would lead to too much debt and regulatory opposition.

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