NYSE parent to merge with Frankfurt, Germany, exchange
The parent company of the New York Stock Exchange announced Tuesday that it plans to merge with the owners of the stock exchange in Frankfurt, Germany, a deal that would create the world's largest marketplace for stocks and derivatives if it wins approval on both sides of the Atlantic.
Under the all-stock deal, shareholders of Germany's Deutsche Boerse would own 60 percent of the new company while NYSE Euronext shareholders would own 40 percent. That values NYSE Euronext at about $10 billion, analysts said. The new entity, which has yet to be named, would have headquarters in both Frankfurt and New York.
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