Deutsche Boerse Shareholders Back NYSE Deal |
| Wall Street Journal - Jul 14, 2011 |
Deutsche Boerse AG (DB1.XE) on Thursday secured shareholder backing for its planned merger with NYSE Euronext (NYX), focusing attention on efforts to win regulatory clearance for what would be the world's largest exchange operator.
Investors in both companies have placed faith in the ability of exchange executives to shepherd the combination through a gauntlet of more than 40 separate regulatory approval processes -- including a lengthy review by the European Union -- without ceding too many concessions that might dilute is planned benefits.
The companies will also press ahead with integration planning efforts, which formally got underway in late June and have already included preliminary meetings between the two exchange groups' business heads, according to persons familiar with the matter.
Deutsche Boerse reported late Wednesday that more than 80% of shares in the Frankfurt-based company had been tendered in favor of the deal, topping the 75% threshold needed for approval. The result came in after the official tender period had closed Wednesday, following the count of shares turned in via physical mail.
Read Full Article from Wall Street Journal
- Posted: 2011-07-14 12:43:17
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