Guest guest Posted May 22, 2006 Report Share Posted May 22, 2006 Monday, 22 May 2006, 07:30 GMT 08:30 UK NYSE in $21bn Euronext merger bid Euronext shareholders will meet on Tuesday to discuss the firm's fate The New York Stock Exchange (NYSE) has unveiled plans to merge with the pan-European Euronext exchange. The proposed move would create a transatlantic stock market giant worth $21bn (16bn euros ; £11bn). Under the terms of the deal, each NYSE share would be converted into one share of common stock in the merged company, which would be renamed NYSE Euronext. If successful, the merger bid would trump rival plans by Germany's Deutsche Bourse for a tie-up with Euronext. Shareholder decision NYSE Euronext will be the world's most liquid and truly global financial marketplace, offering unparalleled benefits for investors and issuers in the United States, Europe and across the globe John Thain, NYSE chief executive Euronext controls the Paris, Brussels, Lisbon and Amsterdam exchanges, as well as the London-based Liffe international derivatives exchange. The Paris-based operator has itself been at the centre of long-running takeover plans for the London Stock Exchange (LSE). However, the recent acquisition of more than a quarter of LSE stock by the US-based Nasdaq technology exchange prompted Euronext to rethink its plans. News of the NYSE offer comes a day before Euronext's annual general meeting in Amsterdam, where shareholders are expected to consider the future of the company. German interest A merger between the NYSE and Euronext would see NYSE Group boss John Thain become chief executive of the combined group, with Euronext chief executive Jean-Francois Theodore becoming deputy chief executive officer. " NYSE Euronext will be the world's most liquid and truly global financial marketplace, offering unparalleled benefits for investors and issuers in the United States, Europe and across the globe, " Mr Thain said. The NYSE was previously reported to be interested in making a bid for the LSE, which has so far rebuffed takeover approaches from Deutsche Boerse, Australia's Macquarie Bank and Nasdaq. Separately, the Financial Times Deutschland reported on Monday that Deutsche Boerse was considering making an all-share offer for Euronext. The German operator reaffirmed its interest in merging with Euronext on Friday. http://news.bbc.co.uk/2/hi/business/5003558.stm Dear List, It will be important to keep a close watch on the exact moment of merging if it happens. Best wishes, satva Jorge Angelino Rua da Sociedade Filarmónica Perpétua Azeitonense, 29 2925-598 Azeitão Portugal jorge.angelino tel: mobile: 210813674 963916784 Add me to your address book... Want a signature like this? -- Version: 7.1.392 / Virus Database: 268.6.1/344 - Release 19.05.2006 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.