NYSE reveals a $21 billion Euronext merger plan

NYSE reveals a $21 billion Euronext merger plan

The New York Stock Exchange has released details on a share and cash bid for Euronext. This would challenge a proposed rival offer from Deutsche Boerse.

This announcement comes just a day before Euronext shareholders decide on the future of the five-country European exchange.

The proposed alliance from NYSE would create a transatlantic exchange giant with a market capitalization of $21 billion.

Euronext board members would meet later today to discuss the two proposals in front of them. The offer from NYSE suggests that after the merger, NYSE Group Chief Executive John Thain would become the new entity’s chief executive and Euronext Chairman Jan-Michiel Hessels would take over as the Chairman.

In addition, Euronext Chief Executive Jean-Francois Theodore would become the deputy chief executive officer of the merged entity.