The NYSE Group Inc. today announced that its shareholders have overwhelmingly approved its proposed combination with Euronext NV.
The NYSE says that approximately 99.7% of its shareholders who voted have approved the exchange’s proposed combination with Euronext, whose shareholders approved the deal yesterday. More than 75% of eligible shares were voted.
Final results of the special meeting of NYSE stockholders vote will be available on Thursday, Dec. 21, following final vote certification by inspector of elections Wells Fargo Shareowner Services.
“This is an historic day for NYSE Group and reaffirms our leadership position in global financial markets,” said John Thain, CEO of NYSE Group. “Winning the approval of NYSE Group and Euronext shareholders enables us to move forward with our shared vision of building the first truly global exchange group, one with the diversity of product and services and geographic reach that will benefit all of our stakeholders and enable our company to grow.”
NYSE Group chairman, Marshall Carter added, “On behalf of my colleagues on the NYSE board of directors, I want to thank our shareholders for their overwhelming support of this strategic business combination. NYSE Euronext will redefine the marketplace for trading cash and derivatives securities, and create new synergies and opportunities for shareholders, investors, issuers and users of our marketplace.”
NYSE Euronext will be the world’s largest and most liquid exchange group with a combined market capitalization of around 21 billion euros /US$27 billion. The combined company will represent the largest cash equities marketplaces with a 19.5 trillion euros/US$25.8 trillion combined total global market capitalization of its listed companies, and will also have global market leadership positions in derivatives, market data and technology. Average daily trading value of the NYSE Euronext will be approximately 77 billion euros/US$102 billion.
NYSE Group and Euronext announced plans to merge on June 1. The transaction is expected to close in late first quarter 2007.
NYSE shareholders approve merger with Euronext
NYSE Euronext will be the world’s largest exchange group
- By: James Langton
- December 20, 2006 December 20, 2006
- 10:10