NYSE Euronext shareholders approve Deutsche Börse merger

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7 Jul, 2011 Updated Thu 7 Jul 2011 16:36 CEST
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NYSE Euronext shareholders approved Thursday a merger with Deutsche Börse to form the biggest stock exchange operator in the world valued at some $25 billion (€17.4 billion).

A merged Deutsche Börse and New York Stock Exchange Euronext will own bourses in New York, Frankfurt, Paris, Lisbon, Amsterdam and Brussels.

Deutsche Börse shareholders will vote on the deal on July 13, with the tie-up expected to produce annual savings of €300 million.

Under the terms of the February 15 merger proposal, Deutsche Börse shareholders will own 60 percent of the combined, Netherlands-incorporated firm, and the German company, which runs the Frankfurt stock exchange, will dominate the new board.

The new entity will control nearly 90 percent of the markets for derivative investment instruments in Europe.

The deal was threatened earlier this year when Nasdaq OMX and the IntercontinentalExchange (ICE) launched a hostile, $11.3 billion bid for NYSE Euronext but the two firms walked away in May after US antitrust officials opposed the plan.




2011/07/07 16:36

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