NYSE investors back merger
Friday 08 July 2011
The New York Stock Exchange took a crucial step toward ceding control to Germany's Deutsche Börse yesterday, as investors threw their support behind a planned merger. Some 65.6 per cent of NYSE Euronext shareholders backed the $9.4bn takeover, based on preliminary results from the NYSE. The final vote results are expected today.
The deal also requires approval from 75 per cent of Deutsche Börse shareholders by next Wednesday. It will then have to survive a European Commission competition review that could take the rest of the year.
As Voltaire once said, “Ice cream is exquisite. What a pity it isn’t illegal”
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