Deutsche Boerse clinches $9.7bn NYSE Euronext deal
FRANKFURT: Germany's Deutsche Boerse AG pulled off a $9.7 billion takeover of NYSE Euronext as shareholders approved a deal to create the world's largest exchange operator amid resistance in Frankfurt.
The tie-up between NYSE and the German exchange is the latest mega-deal among exchange operators not to collapse, but faces formidable anti-trust hurdles on both sides of the Atlantic.
More than 80 percent of Deutsche Boerse shareholders tendered their stock as part of the deal, the company said in a regulatory statement on Thursday based on a preliminary count.
It said it would publish the final number of shares tendered at a later point.
The deal was first announced in February amid a flurry of cross-border deal attempts by exchanges eager to cut costs and diversify in the face of fast-eroding market shares in their traditional stock-trading businesses.
Copyright Reuters, 2011
Comments
Comments are closed for this article.