Nasdaq OMX Group Inc, not wanting to be left out in the cold of the global mergers frenzy among exchanges, is closer to making a counter-bid for NYSE Euronext, a source familiar with the situation said. Nasdaq would finance the transaction with up to $5 billion in debt and would most likely have to sell Euronext’s Liffe derivatives business to IntercontinentalExchange Inc to raise the needed capital.
If successful, such a counter-offer would redraw the global exchange map and thwart yet another merger plan by Germany’s Deutsche Boerse.
Even though the Nasdaq group has several options to go forward with a bid for NYSE, Michael J. De La Merced of The New York Times thinks Nasdaq will find itself hard pressed to stay alone as its competitors bulk up through a series of mergers.
Private equity firm Apollo Management is expected to set terms today for its long-expected initial public offering that could be up to $500 million in size, four sources familiar with the situation said.
A listing would see Apollo join Kohlberg Kravis Roberts & Co and Blackstone Group in becoming one of the few publicly-traded private equity firms.