The proposed merger of the NYSE Euronext and Deutsche Boerse AG got the blessing of the U.S. Department of Justice Thursday.
The NYSE announced that the DOJ’s anti-trust division has cleared the proposed combination, and that it has entered into a consent decree with the exchanges that allows the merger to proceed on the condition that the International Securities Exchange sell its minority stake in Direct Edge Holdings, LLC.
ISE is wholly owned by Eurex, the derivatives exchange of Deutsche Boerse. It has held its 31.54% stake in Direct Edge since 2008; and, according to the agreement with the DOJ, it will have at least two years from the date of closing to sell off that stake.
The transaction still faces further closing conditions, including approvals by the European Commission and other relevant national stock exchange supervisory authorities.
“We are very pleased to have received the approval of the DOJ, an important milestone on our path to completing our compelling trans-Atlantic combination,” said Duncan Niederauer, CEO, NYSE Euronext.