Nasdaq, ICE expected to go hostile for NYSE

Nasdaq OMX Group and IntercontinentalExchange Inc are expected to soon go hostile in their bid for NYSE Euronext, taking their takeover offer directly to shareholders, two sources familiar with the situation said on Thursday.

Nasdaq's board plans to meet in coming days to discuss when to make the tender offer, the sources said. NYSE Euronext's board has twice rejected their USD 11.1 billion bid in favor of a friendly USD 10.1 billion deal with Germany's Deutsche Boerse AG.
The tender offer would come "sooner rather than later," said one of the sources, who requested anonymity because talks are private.
Last week, NYSE directors unanimously rejected a sweetened cash and stock bid from Nasdaq and ICE, citing risks that regulators would block it, and arguing the all-stock Deutsche Boerse offer was a better fit with long-term company strategy.
Nasdaq and ICE want to buy and split between them NYSE Euronext, which runs the Big Board and stock and futures exchanges across Europe. Some shareholders have criticized NYSE for not engaging in talks with the pair.