Senator Charles Schumer has asked NASDAQ OMX Group and Intercontinental Exchange (ICE) for data on positions lost in their joint bid to buy NYSE Euronext, The Wall Street Journal reports. Schumer is looking for more information on the companies’ planned cost cutting.
A NASDAQ/ICE takeover will lead to 1,000-1,100 job cuts in the U.S., with about 800 of those in the New York City area. NYSE has discarded the $11 billion joint offer from NASDAQ and ICE and is now proceeding with the $10 billion deal struck in February with Deutsche Börse.
Click here for the story from The Wall Street Journal.