NYSE rejects Nasdaq bid, sticks with Deutsche Boerse

Turning down Nasdaq OMX's pricier bid, NYSE Euronext's chief executive said on Sunday that his exchange's long-term plans culminate in a partnership with Germany's Deutsche Boerse, not being bought out by the American exchange.

NYSE Euronext's board made the decision formal over the weekend, although judging from the sentiment of Duncan Niederauer, NYSE's chief executive, the Nasdaq OMX deal had little chance of success. That's despite the Nasdaq OMX offer, which was also backed by the IntercontinentalExchange, being more than $1 billion more than Deutsche Boerse's $9.7 billion.

Niederauer said that breaking up NYSE Euronext, which likely would have been part of the larger Nasdaq OMX deal, would not bring the same long-term value as a partnership with Deutsche Boerse.

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