Arab Today, arab today nyse shareholders back merger with deutsche boerse
Last Updated : GMT 14:23:27
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

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
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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