Nasdaq OMX and IntercontinentalExchange bid $11.3 billion for NYSE Euronext in an effort to trump Deutsche Boerse’s deal, and pushed their case with an appeal to US patriotism.

The counterbid – unveiled yesterday to some scepticism it can succeed – offer is valued at $42.50 a share, a 12 per cent premium to Deutsche Boerse’s $10.2 billion bid in February.

It would give NYSE shareholders cash and stock. – (Reuters)