Of Special Interest


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8th July 2011

NYSE Euronext shareholders approve Deutsche Borse deal

NYSE Euronext shareholders have voted in support of the merger with Deutsche Börse it was announced after market close last night. Deutsche Börse shareholders will hold the majority of the stock under the proposed deal. It is reported that around 96% of those who voted were in support and they held around 65.6% of all shares. Full statistics are to be released later today (Friday).

Deutsche shareholders will vote next week and a 75% majority is required from this group as it is a strategic change. Deutsche Börse employee trade unions are campaigning against the merger however it is thought likely that the merger vote will be passed.

The European Commission is investigating the competition implications and is unlikely to make its decision until the very end of the year.

If the merger gets all necessary approvals NYSE Chief Executive Duncan Niederauer will become chief executive of the new organisation however Deutsche Börse will appoint 10 of the 17 directors.