NYSE Euronext To Buy Amex |
| Forbes - Jan 18, 2008 |
Wall Street just got a little smaller.
NYSE Euronext announced late Thursday afternoon that it will acquire its smaller neighbor in Lower Manhattan, the privately held American Stock Exchange.
The purchase strengthens NYSE’s position in the exploding options market, as well as in exchange-traded funds and closed-end funds.
Shares of NYSE Euronext rose 2.7%, or $1.93, to $73.00 in after-hours trading.
Amex seatholders will receive $260 million in NYSE Euronext shares, plus additional shares following the sale of Amex's headquarters building.The Amex's traders will be relocated to the New York Stock Exchange, where there is plenty of room for them on the trading floor due to the rise of electronic trading.
Read Full Article from Forbes
- Posted: 2008-01-18 09:35:09
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