Deals wrap: Nasdaq says offer superior despite NYSE snub

April 11, 2011

NYSE/NASDAQNasdaq OMX Group responded to NYSE Euronext’s snub by reaffirming their cash and stock offer for the exchange was superior to that of the bid submitted by German rival Deutsche Boerse AG. Nasdaq’s CEO, Robert Greifeld said in a statement they have received positive feedback from NYSE Euronext shareholders and expects, at the very least a meeting with NYSE Euronext to discuss further details. Shares of Deutsche Boerse rose 1 percent after NYSE Euronext’s rejection of Nasdaq’s offer.

Endo Pharmaceuticals Holding Inc. will buy American Medical Systems for $2.6 billion in cash to boost its key urology franchise. The deal is expected to immediately add to Endo’s adjusted earnings for 2011 and to boost 2012 adjusted earnings.

Schneider Electric, the world’s biggest maker of voltage equipment is considering a takeover of industrial conglomerate Tyco International, Bloomberg reported. Shares of Tyco jumped 4.2 percent in early morning trade on news of the possible deal.

Chrysler is expected to refinance a $7 billion debt by June, clearing the way for Fiat, which has controlled the number three U.S. automaker since 2009, to take a majority stake. Fiat currently holds a 25 percent stake in Chrysler.

Simon Murray, the South Pole adventurer and former Vodafone board member said he is in the running to become chairman at commodities trading giant Glencore International AG which is planning a $10 billion duel listing in London and Hong Kong.

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