Nasdaq OMX Group (NASDAQ:NDAQ) and IntercontinentalExchange (NYSE:ICE) withdrew their joint bid for NYSE Euronext following discussions with antitrust regulators.
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"We took the decision to withdraw our offer when it became clear that we would not be successful in securing regulatory approval," said Nasdaq Chief Executive Officer Bob Greifeld in a release.
The companies initially made the $11 billion unsolicited offer to acquire the parent of the New York Stock Exchange in April. NYSE's board rejected the proposal twice, favoring a friendly deal it struck with German exchange Deutsche Boerse that was worth $10 billion.
The Deutsche Boerse deal is still subject to regulatory approval in the U.S. and in Europe.
“As we have consistently maintained, the combination with Deutsche Boerse creates the world’s premier exchange group -- a geographically diverse business across multiple asset classes that will create compelling long term value for our shareholders," said Duncan Niederauer, chief executive of NYSE Euronext. "We look forward to continuing to share this vision with shareholders and other stakeholders as we move toward our vote on July 7th.”