Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
8th July 2011
NYSE Euronext shareholders approve Deutsche Borse deal
NYSE Euronext shareholders have voted in support of the merger with Deutsche Börse it was announced after market close last night. Deutsche Börse shareholders will hold the majority of the stock under the proposed deal. It is reported that around 96% of those who voted were in support and they held around 65.6% of all shares. Full statistics are to be released later today (Friday).
Deutsche shareholders will vote next week and a 75% majority is required from this group as it is a strategic change. Deutsche Börse employee trade unions are campaigning against the merger however it is thought likely that the merger vote will be passed.
The European Commission is investigating the competition implications and is unlikely to make its decision until the very end of the year.
If the merger gets all necessary approvals NYSE Chief Executive Duncan Niederauer will become chief executive of the new organisation however Deutsche Börse will appoint 10 of the 17 directors.