NYSE Euronext and Deutsche Boerse AG are weighing several options to win support for their US$10.2 billion deal, including paying special dividends to shareholders, three sources briefed on the matter said on Wednesday.
NYSE could give its own shareholders a special dividend at the time the Deutsche Boerse deal closes, sources said.
Other options include NYSE Euronext and Deutsche Boerse together buying back shares or paying a dividend after the deal is completed, one of the sources said.
Photo: AFP
The idea is to win shareholder support for the NYSE Euronext-Deutsche Boerse combination over a higher but unsolicited offer for NYSE Euronext by NASDAQ OMX Group and IntercontinentalExchange Inc (ICE).
While NYSE Euronext and Deutsche Boerse currently pay dividends, NASDAQ and ICE do not.
Further highlighting their desire to fend off an unsolicited bid, NYSE Euronext and Deutsche Boerse have also identified additional cost savings from their planned combination, one of the sources said.
NASDAQ and ICE bid US$11.3 billion to buy and divide the centuries-old NYSE between them. The offer was a 12 percent premium to Deutsche Boerse’s acquisition plan, unveiled in February.
NYSE’s board dismissed the counteroffer on Sunday as too risky and contrary to the company’s strategy, though NYSE shareholders will likely have to decide between the competing offers.
NYSE, NASDAQ, and Deutsche Boerse declined to comment. The sources requested anonymity because the talks are not public.
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