Friday, February 18, 2011

More mega-money for the rich: Deutsche Boerse buys NYSE Euronext

Deutsche Boerse shareholders will own 60pc of the new company, and will swap one share of its own stock for one share in the new company, while every NYSE Euronext share will be exchanged for 0.47 new shares.

NYSE Euronext's revenues have fallen recently because of competition from cheaper computerized stock exchanges in the US and Europe. Many other global stock exchanges have also combined to save costs.

The deal will give NYSE Euronext a larger footprint in the more lucrative business of trading in futures and options contracts. Read more