NYSE Group to acquire Euronext for $10 billion

NYSE Group Inc. has confirmed that they have finally struck a deal to buy European bourse operator Euronext. The deal is worth around 7.78 billion euros and with this; they have outbid the other bidders including Deutsche Boerse AG.

This acquisition would help them create the first transatlantic stock exchange in the world. The new merged entity would be called NYSE Euronext and will have U.S. headquarters in New York. The international headquarters would be based in Paris and Amsterdam.

This move would also build more pressure on the stock exchanges around the world to consolidate to cut costs and increase execution speed. This is perhaps the first such deal involving exchanges in Europe and United States.

The deal between NYSE and Euronext would see Euronext shareholders having the right to exchange each of their shares for 0.98 NYSE Euronext shares and 21.32 euros cash.

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