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Charlie Breaks It

NYSE CEO May Be Asked to Recuse Himself From Bid Consideration Process

Charlie Breaks ItFOXBusiness

Officials at the NYSE Euronext (NYSE:NYX) may have accepted a deal from Deutsche Boerse, but rival exchanges aren’t walking away quietly.

Sources tell FOX Business that the NASDAQ OMX and IntercontinentalExchange are considering asking NYSE CEO Duncan Niederauer to recuse himself from the process of considering their joint bid.

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The demand would come in a letter to Niederauer citing conflicts of interest that may impair his judgment as to whether a NASDAQ/ICE bid would be better for shareholders than Deutsche Boerse’s $35.29 a share offer. It is speculated that Niederauer, who has served as CEO since 2007, would be out of a job under a NASDAQ/ICE deal.

Sources say NASDAQ will make its decision to formally ask for Niederauer’s removal depending on whether he agrees to formally consider its bid at the NYSE April 28 board meeting.

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