NEW YORK (CNNMoney) -- Nasdaq OMX Group and IntercontinentalExchange have added a $350 million "reverse termination fee" to sweeten their $11.3 billion bid for the parent company of the New York Stock Exchange.
"Our actions today demonstrate our commitment to pursuing this transaction and further illustrate exactly how our proposal is superior," said Nasdaq (NDAQ) Chief Executive Robert Greifield, in a statement.
The offer from Nasdaq and IntercontinentalExchange, also known as ICE (ICE), is valued at $42.67 per NYSE share. That works out to a 21% premium, or $2 billion more than Deutsche Boerse's $35.29-a-share offer.
NYSE had already agreed to the Deutsche Boerse deal in February. The combined company would become the world's largest exchange for stocks and derivatives.
Under the Nasdaq-ICE deal, Nasdaq would get the stock and options exchanges, with ICE taking over NYSE's stocks and derivatives business. NYSE rejected the Nasdaq-ICE deal earlier this month.
At the time of the rejection, NYSE Euronext chairman Jan-Michiel Hessels said that "breaking up NYSE Euronext, burdening the pieces with high levels of debt, and destroying its invaluable human capital, would be a strategic mistake in terms of where the global markets are going."
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.79%||3.84%|
|15 yr fixed||2.90%||2.95%|
|30 yr refi||3.79%||3.84%|
|15 yr refi||2.98%||3.01%|
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