Tuesday, May 17, 2011

Fox Business Reports NASDAQ Offered To Sell New York Stock Exchange Building After Purchase

(FBN) Senior Correspondent Charlie Gasparino reports Nasdaq CEO Bob Greifeld went to the Department of Justice (DOJ) and offered to sell “the New York Stock Exchange building and listing business to a third party” in order to “avoid antitrust concerns.” Excerpts from the report are below, courtesy of Fox Business Network.

On what Nasdaq was willing to do in order to purchase the NYSE:

“The Nasdaq, in trying to buy the New York Stock Exchange, was willing to sell the New York Stock Exchange, to avoid antitrust concerns. The Nasdaq offered to sell the New York Stock Exchange building and listing business to a third party if the DOJ would agree to give the antitrust approval. What would be left? Not much. They would have gotten the European business, some derivatives, the Archipelago Electronic Trading Platform. They would have gotten the Deutsche Börse deal to break up. Bob Greifeld went to the Department of Justice and said he would sell the biggest part of the deal; the brand.”