The proposal represents a 19% premium over the price proposed by Deutsche Boerse, based on Deutsche Boerse’s closing share price as of 31 March 2011, and a 27% premium over NYSE Euronext’s unaffected stock price on 8 February 2011, the day prior to NYSE Euronext’s statement that they were in discussions with Deutsche Boerse regarding a transaction.
Under the terms of the proposed acquisition, NYSE Euronext stockholders would receive $14.24 in cash, plus 0.4069 shares of Nasdaq OMX common stock and 0.1436 shares of ICE common stock for each NYSE Euronext share.
As part of the proposal, ICE would purchase NYSE Euronext’s derivatives businesses, and Nasdaq OMX would retain NYSE Euronext’s remaining businesses, including the NYSE Euronext stock exchanges in New York, Paris, Brussels, Amsterdam and Lisbon, as well as the US options business.
A combination of Nasdaq OMX and NYSE Euronext would merge the trading, listings, options and market technology businesses of the two companies to create an international exchange, headquartered in New York City, with a geographic footprint in 16 countries.
