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The board of director of Euronext decided to decline the latest proposal on the merger with NASDAQ OMX and the Intercontinental Exchange (ICE). The transaction’s value was expected to reach $11.3 billion. Voting majority decided that the deal contained too many risks and contradicted the company’s interests.
At the same time, the board thinks that the planned deal with Deutsche Boerse will, on the contrary, be useful for investors of Euronext. The board of directors of Deutsche Boerse itself now counts on successful accomplishment of the transaction after Euronext declined the latest proposal by NASDAQ and ICE.
To remind you, Deutsche Boerse came up with its merger proposal in February. According to the terms of the agreement, it will have 60% of Euronext in its possession. The value of the deal is $9.5 billion.
NYSE Euronext was founded in 2006 as a result of the merger of the New York Stock Exchange and the European bourse – Euronext.
Source: GAAP.ru
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