View Full Version : Euronext and NYSE set to merge

19-12-06, 22:08
VRT : Euronext votes to merge with NYSE (http://www.vrtnieuws.net/nieuwsnet_master/versie2/english/details/061219_euronextbis/index.shtml)

The shareholders of the pan-European stock exchange Euronext have voted overwhelmingly for a merger with the New York Stock Exchange.
Shareholders of the New York Stock Exchange are to vote on the merger at a meeting due to be held on Wednesday.

They are also expected to vote in favour of the merger, which has already received the green light from the authorities in charge of competitions policy.

The merged exchange will be known as the NYSE-Euronext Stock Exchange. It will be a transatlantic giant worth a total of 22.3 billion euros.

Some 21 trillion euros worth of shares will be listed on the new merged exchange.

The NYSE is already the world's biggest stock exchange and the merger with Euronext will further strengthen its global position.

I find it strange for the biggest European stock exchange to merge with biggest American stock exchange. The trend was for euro-zone markets to merge, not to create a trans-Atlantic stock exchange. That is globalisation at its most unrestrained !