NYSE Euronext shareholders approve Deutsche Boerse merger

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NYSE Euronext shareholders approved Thursday a merger with Deutsche Boerse to form the biggest stock exchange operator in the world valued at some $25 billion.

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

Deutsche Boerse shareholders will vote on the deal on July 13, with the tie-up expected to produce annual savings of 300 million euros ($430 million).

Under the terms of the February 15 merger proposal, Deutsche Boerse shareholders will own 60 percent of the combined, Netherlands-incorporated firm, and the German company 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 AFP

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