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Frankfurt and NYSE agree to merger deal

first_img whatsapp Frankfurt and NYSE agree to merger deal KCS-content Share Show Comments ▼ whatsapp DEUTSCHE BOERSE and the New York Stock Exchange (NYSE) have agreed plans to create the world’s largest financial exchange group.The combined company will have 2010 net revenues of $5.4bn (£3.3bn) and will hold joint headquarters in New York and Frankfurt.Despite being billed as a merger, the transaction will see the German exchange emerge as the dominant partner, holding 60 per cent of the combined group.Shareholders in NYSE would hold 40 per cent.The newly combined firm, which has yet to be named, will be led by current NYSE head Duncan Neiderauer as chief executive, whilst the majority of the board will be ran by German executives.The deal could cause concern for regulators on both sides of the Atlantic, yet the heads of the two bourses say they believe the deal will be passed.Deutsche Boerse chief executive Reto Francioni, who will become chairman of the combined group, said: “We feel supported by the politicians and also the regulatory body in going ahead.Analysts broadly welcomed the deal, although also raised concerns over regulator approval.David Buik, analyst at BGC Partners, said: “There are bound to be antitrust laws… But once the dust has settled when people look at the value of the deal and what it means for everybody, the deal makes an enormous amount of sense.” Tags: NULL More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comColin Kaepernick to publish book on abolishing the Tuesday 15 February 2011 8:52 pmlast_img

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