By Kevin McCauley
Brunswick Group is guiding Nasdaq OMX Group as its presses its $11.3B unsolicited takeover bid to break up the New York Stock Exchange’s $9.7B agreement to merge with Germay’s Deutsche Borse.
NYSE Euronext yesterday rejected Nadaq’s joint bid with Intercontinental Exchange as “strategically unattractive with unacceptable execution risk.” Sard Verbinnen & Co.’s George Sard and Paul Verbinnen represent the Big Board.
The Wall Street Journal reports that NYSE is under pressure from angry investors to justify accepting a takeover bid that is 16 percent below what is being offered by Nasdaq OMX and Intercontinental.
Nasdaq CEO Bob Greifeld has been meeting with big NYSE Euronext shareholders and politicos to round up support for its bid, according to the WSJ.
NYSE Euronext shareholders will vote on the German takeover bid at the April 28 annual meeting.
Brunswick is the former firm of Frank De Maria, senior VP/global corporate communications at Nasdaq.
He joined from Newsweek last June to succeed Bethany Sherman, who left for Dow Jones & Co. in March.
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