Deutsche Börse will not raise NYSE bid

Deutsche Börse has no plans to raise its agreed $10.2bn bid for NYSE Euronext, although it offer has been trumped by joint proposal from Nasdaq OMX and IntercontinentalExchange (ICE), a source familiar with the talks said last night.

Nasdaq and ICE unveiled their $11.3bn cash-and-share alternative to the German group's all-share offer last week, with the NYSE board planning to meet by 14 April to consider the new proposal. Deutsche Börse, which is set to hold a regular board meeting on 12 April, declined to comment.