NYSE rejects Nasdaq and ICE bid

NYSE Euronext has rejected a bid from rival US exchanges Nasdaq and ICE, saying it will stick with plans to merge with Deutsche Boerse.

The Nasdaq-ICE bid was unsolicited and came after the NYSE and Deutsche Boerse announced their mutual plans.

In a statement, NYSE Euronext said the directors found the $11.3bn (£6.9bn ) bid from Nasdaq and ICE "strategically unattractive, with unacceptable execution risk".

Deutsche Boerse's offer is for $10.2bn.