Nasdaq CEO to Meet With 'Arbs' to Push Hostile Bid for NYSE

The FOX Business Network has learned that Nasdaq CEO Robert Greifeld plans to meet with a group of 60 investors on Monday as he continues to push his hostile bid to buy the New York Stock Exchange directly with NYSE shareholders.

The investors, known as "Arbs" or Arbitrageurs, are unlike long-term holders of the stock in that they are betting on a short-term increase in share price before selling their holdings.

Still they are an increasingly important constituency for both Greifeld and NYSE CEO Duncan Niederauer in pushing competing plans for the future of the Big Board. A large percentage of outstanding NYSE shares are being held by the arb community and they, like all shareholders, will either vote for Greifeld's deal or Niederauer's plan to combine with Germany's Deutsche Borse.

FBN was first to report Greifeld's intention to go directly to shareholders with a higher, hostile bid for the NYSE. Officials at the Nasdaq and its partner in the bid, The Intercontinental Exchange are awaiting some indication from regulators before officially making a tender offer to shareholders, which could come as early as this week.