Under the terms of the offer, each share of NYSE Euronext would be exchanged for $14.24 in cash, 0.4069 shares of Nasdaq OMX common stock and 0.1436 shares of ICE common stock.
If Nasdaq OMX and ICE are successful in acquiring shares pursuant to the offer, they would consummate a second step merger as soon as possible thereafter to acquire the remaining NYSE Euronext shares for the same consideration per share, said Nasdaq OMX.
This exchange offer follows an initial public proposal made by Nasdaq OMX and ICE to the NYSE Euronext Board on 1 April 2011 to discuss a possible combination of the companies and the delivery of a draft merger agreement on 19 April 2011.
On both occasions, NASDAQ OMX and ICE’s proposals were summarily rejected by NYSE Euronext’s Board without any attempt for engagement or discussion.
