Posted January 29, 2013 by David H in World

Berkshire (NYSE:BRK.A) claimed to Have bid for NYSE Euronext (NYSE:NYX) Last Year

Northern, WI 1/29/2013 (avauncer) - Berkshire Hathaway Inc. (NYSE:BRK.A) had made a bid last year for purchase of NYSE Euronext, (NYSE:NYX) on the condition that the exchange sell its business of European derivatives, according to people in the know. European derivatives make up around 19% of NYSE Euronext’s (NYSE:NYX) 3^rd quarter net income, a fall of 22% from last year.

Berkshire (NYSE:BRK.A) has been called as “Company A” in the regulatory filing made on Nov. 28 for the bid. However the offer was not made public. Perella Weinberg Partners LP, who was an adviser for NYSE Euronext, (NYSE:NYX) got in touch with Company A, who had made an offer of below $8.2 as compared to that made by Intercontinental Exchange Inc. (NYSE:ICE) which was ultimately accepted. Company A is named as a “large industrial and financial holding company” in the report, released on Jan. 25.

NYSE said on 20^th Dec. it will be taken over by Intercontinental Exchange(NYSE:ICE), also called as ICE. Berkshire ((NYSE:BRK.A) is a $242 billion firm, owned by Buffett who invested insurance premiums in building the company and buying stakes in firms like Goldman Sachs Group Inc. (NYSE:GS) and General Electric Co. (NYSE:GE)

NYSE Euronext’s (NYSE:NYX) spokesman Richard Adamonis, refused to say anything about the matter so also Anita Liskey, CME’s spokeswoman. Buffett also didn’t answer to a plea for comment.

ICE, has said on 20^th Dec. it will shell out $33.12 per share to the holder of the New York Stock Exchange. Both the boards have accepted the proposal and the firms intend to finish the deal during the 2^nd half of 2013.

Shares of NYSE Euronext (NYSE:NYX) were up by 0.30% to closed at $33.71.

Shares of Berkshire Hathaway Inc. (NYSE:BRK.A) were down by 0.39% to close at $146,720.00

NYSE:BRK.A NYSE:NYX

David H

David H. Steinberg grew up in West Hartford, Connecticut, entered Yale at age 16, and earned his law degree from Duke University, where he served as editor-in-chief of the law review. After four years of entertainment law in Atlanta and New York, he abandoned his legal career to attend U.S.C.’s Peter Stark Producing Program. Steinberg broke out as a writer in 1999 with his teen comedy SLACKERS that ignited a bidding war for the script. The movie starred Devon Sawa, Jason Schwartzman, and model Jaime King and became an instant cult classic.