Citigroup Global Markets Inc. has issued a fairness opinion in favour of the proposed NYSE-Archipelago merger.
It said the deal, “based upon the financial terms of the merger agreement submitted to the NYSE members for a vote, is fair, from a financial point of view, to the holders of NYSE membership interests.”
“We are pleased that the Citigroup Global Markets Inc. fairness opinion validates the terms of our planned merger with Archipelago,” the NYSE said in a statement. “This opinion reaffirms the NYSE Board’s belief that the terms of this transaction are fair and equitable and that the merger is in the best interests of NYSE members, the exchange, and America’s capital markets.”
The exchange said that the Citigroup opinion has been delivered to the judge hearing the suit to block the deal, New York Supreme Court Justice Charles Ramos, and is now being sent to NYSE members. The NYSE agreed to seek the opinion from Citigroup on November 16 as part of a deal to put an end to the suit.
“We look forward to the December 6 Member meeting and vote, and urge all NYSE members to participate,” it added.
Citigroup says NYSE deal for Archipelago is fair
- By: IE Staff
- November 24, 2005 November 24, 2005
- 08:30