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Buffet’s Berkshire Hathaway to bid for bourse operator NYSE Euronext

Warren Buffett’s firm Berkshire Hathaway Inc (NYSE:BRK.A) submitted a bid for stock exchange operator NYSE Euronext (NYSE:NYX) in November 2012 after being approached by the target’s bankers, Reuters said citing two knowledgeable sources.

Berkshire Hathaway was the “Company A” bidder that was revealed in a regulatory filing by NYSE’s current suitor IntercontinentalExchange Inc (NYSE:ICE), on Monday, the sources, who wished to remain anonymous, said.

According to the document, the Company A’s offer was lower than the one already made by the US futures exchange operator and was subject to the sale of the target’s European derivatives business for a minimum price. Besides, the bankers’ negotiations with the unnamed bidder did not result in a higher offer, the filing indicated.

Buffett’s assistant did not want to discuss the matter immediately, whereas NYSE Euronext refused to comment.

ICE struck a USD8.2bn (EUR6.1bn) cash-and-stock deal to acquire NYSE Euronext in late December after about two months of discussions. The transaction is expected to wrap up in the second half of 2013.


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