D.Boerse, NYSE narrow in on name as talks intensify
- Source: Global Times
- [08:40 February 14 2011]
- Comments
Deutsche Boerse and NYSE Euronext may name a merged company "DB NYSE Group," according to two people close to the negotiations.
However, the companies said no name had yet been picked for what could become the world's largest exchange operator.
The Frankfurt and New York-based companies will likely sidestep thorny issues of technology in a bid to strike a merger deal by early next week, the Europe-based sources said. The companies are edging toward an outline deal to be agreed on Tuesday or Wednesday, one source said.
The exchange operators said Saturday that negotiations continued. "No name has been finalized and we expect any decision on a name would be made at a later date, subject to the successful completion of a merger agreement," they said in a joint statement.
Earlier this week, the companies unveiled the first details of the merger plan that would give Deutsche Boerse shareholders about a 60 percent stake, and name NYSE Euronext's head Duncan Niederauer as chief executive.
The two Europe-based sources said the sides have still not finalized a merger document that can be presented to Deutsche Boerse's board of directors, confirming earlier reports.
They said the name DB NYSE Group has emerged as the front-runner among the options for the new company.
Reuters
