NYSE Euronext is likely to raise by up to a third its forecast for cost savings from a deal with Deutsche Börse, Financial Times reports. The U.S. exchange operator is raising the forecast to counter an $11.3 billion bid from NASDAQ OMX and Intercontinental-Exchange (ICE).

The total synergies generated from the Deutsche Börse deal could reach about $728 million as compared to the $740 million in net synergies expected from the NASDAQ and ICE deal. NYSE and Deutsche are now expected to find $583 million in cost savings than the $437.2 million unveiled in February.

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