NYSE Euronext, Deutsche Borse formalize courtship

Deutsche Börse AG (XETRA:DB1) and NYSE Euronext (NYSE:NYX) confirm that they have formally notified their planned business combination to the European Commission’s Directorate-General for Competition, thereby triggering the formal start of the anti-trust review process in Europe.

The NYSE Euronext Board of Directors has scheduled a special meeting of shareholders on July 7, 2011 where they will ask the NYSE Euronext shareholders to vote to approve the combination with Deutsche Börse. The acceptance period during which shareholders of Deutsche Börse can tender their shares for exchange to the joint holding company of Deutsche Börse and NYSE Euronext (Alpha Beta Netherlands Holding N.V.) will end on July 13, 2011.

The combination of Deutsche Börse and NYSE Euronext creates:

  • a genuine transatlantic market infrastructure, positioning Europe as an equal partner to the US in leading the development and harmonization of effectively regulated capital markets;
  • a true, pan- EU equity stock market, with single currency trading and the deepest pool of liquidity in Europe, which thereby advances the European Commission’s vision of a single, integrated, pan EU €-denominated capital market;
  • significant benefit for clients and issuers thanks to increased efficiencies and reduced costs from opportunities for post-trade harmonization;
  • the premier global exchange, allowing Europe to strengthen and solidify its role as one of the world’s most important financial centers now and into the future.

The transaction is subject to a number of conditions, including approval by the relevant competition and financial, securities and other regulatory authorities in the U.S. and Europe.

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