Arab Today, arab today nyse shareholders back merger with deutsche boerse
Last Updated : GMT 06:51:35
Arab Today, arab today
Arab Today, arab today

NYSE shareholders back merger with Deutsche Boerse

Arab Today, arab today

Arab Today, arab today NYSE shareholders back merger with Deutsche Boerse

New York - Arabstoday

The New York Stock Exchange (NYSE), an icon of American capitalism, moved closer to ceding control to a German company Thursday, with few investors lodging any protest. Some 65.6 per cent of NYSE Euronext shareholders backed the $9.4 billion (Dh34.5 billion) takeover of the company that owns the NYSE by Deutsche Boerse, preliminary vote results from the NYSE showed. About 96 per cent of votes cast were in favour, the company said. The final vote results are expected Friday. The exchanges have promoted the deal as a merger of equals in part because it allows Big Board Chief Executive Duncan Niederauer to run the combined entity. The larger Frankfurt-based bourse, however, would control 10 of 17 board positions, while its shareholders will own roughly 60 per cent of a yet-to-be-named Netherlands-based holding company. If roadblocks to the blockbuster deal emerge, they are likely to come from Europe. The deal requires approval from 75 per cent of Deutsche Boerse shareholders by next Wednesday and then would have to survive a thorny European Commission anti-trust review that could run through the rest of the year. Niederauer said shareholders in the German company also back the deal, noting that the challenge there will be in making sure enough investors file the paperwork properly and in time. \"I have not met a single Deutsche Boerse shareholder who is not supportive of the transaction,\" Niederauer said at the shareholder meeting in New York. The tie-up between NYSE and the German exchange was announced in February amid a flurry of cross-border deal attempts by exchanges eager to cut costs and diversify in the face of fast-eroding market shares in their traditional stock-trading businesses. The London Stock Exchange Group and Canada\'s TMX Group headed into negotiations, as did the Singapore Exchange and Australia\'s ASX. One by one, however, those and other deals collapsed, shattered by political and nationalistic resistance. A NYSE-Deutsche Boerse combination would produce a behemoth that offers trades in virtually every US and European asset class, with annual trading volume exceeding $20 trillion. It also explains why European antitrust regulators are expected to take a close look at the near lock the company would have on exchange-traded derivatives and possibly demand some divestitures or other concessions.There have been few public critics of the deal in the US, despite the NYSE\'s symbolism as a bastion of American capitalism. From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nyse shareholders back merger with deutsche boerse Arab Today, arab today nyse shareholders back merger with deutsche boerse

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nyse shareholders back merger with deutsche boerse Arab Today, arab today nyse shareholders back merger with deutsche boerse

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday