Deutsche Boerse sets July 13 deadline for NYSE merger bid

4th May 2011, Comments 0 comments

Deutsche Boerse Wednesday announced the official launch of its bid to merge with NYSE Euronext after German regulators gave it a green light. Shareholders now have until July 13 to accept the offer.

Germany's financial supervisory authority (BaFin) has approved the publication of the offer documents, Deutsche Boerse said in a news release.

"Our shareholders now have the historic opportunity to participate in the new stock exchange group by exchanging their shares" by July 13, it added.

Under the terms of the proposed deal, first unveiled in February, NYSE Euronext would own 40 percent of the new holding and Deutsche Boerse the rest.

On Monday Nasdaq OMX and IntercontinentalExchange declared a hostile takeover bid for NYSE Euronext, which had twice rejected their earlier offers.

© 2011 AFP

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