NYSE Euronext Says “No Thanks” to NASDAQ/I.C.E. Bid (NYX)

Shutterstock photo

Stock exchange operator NYSE Euronext ( NYX ) over the weekend announced that it has rejected a proposed $11.3 takeover offer from rivals NASDAQ OMX ( NDAQ ) and InterContinental Exchange ( ICE ).

The company noted that Nasdaq's bid was "highly conditional" and would have been a difficult deal to complete. Instead, NYSE will continue ahead with its previously-agreed-upon takeover by German exchange operator Deutsche Boerse AG.

That $10 billion deal, announced in February, would put the largest U.S. stock exchange in foreign hands for the first time.

The move from NYSE was expected by many. The Nasdaq/I.C.E. offer drew immediate skepticism from analysts, since federal regulators could bring up antitrust issues if both companies were under the same roof.

NYSE Euronext shares fell 15 cents, or -0.4%, in premarket trading Monday.

The Bottom Line
Shares of NYSE Euronext ( NYX ) have a 3.10% dividend yield, based on Friday's closing stock price of $38.70. The stock has technical support in the $34-$35 price area. If the shares can firm up, we see overhead resistance around the $40-$42 price levels.

NYSE Euronext ( NYX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks
Referenced Symbols: ICE , NDAQ , NYX

More from Dividend.com



Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com