4:00am

Mon April 11, 2011
Business

Business News

Transcript

RENEE MONTAGNE, host:

The battle of the Bourses is at the top of NPR's business news.

(Soundbite of music)

MONTAGNE: The country's two largest stock exchanges are going at each other, as a possible bidding war heats up for control of the New York Stock Exchange.

Yesterday, officials at the New York Stock Exchange rejected an offer by NASDAQ and a smaller U.S. exchange for $11.3 billion. The NYSE said it's sticking with an earlier offer made by Germany's Deutsche Bourse for about $10 billion.

NASDAQ hit back last night with a statement saying its offer is superior. If NASDAQ decides to pursue its plan, it could start a hostile bidding war and appeal directly to the shareholders of the New York Stock Exchange.

STEVE INSKEEP, host:

And as the price of a stock exchange goes up, so are prices at the gas pump. Gas prices are now at a 30-month high. As oil prices near $113 per barrel, the national average for regular gas has hit $3.74. That's according to the AAA Auto Club, which says prices are about 88 cents higher than a year ago.

Economists are concerned about higher gas prices cutting into consumer spending and affecting the broader economy. Transcript provided by NPR, Copyright National Public Radio.

Related Program