The joining of NYSE Euronext and Deutsche Börse moved a step closer today when the former’s shareholders voted overwhelmingly in favor of a merger between the two exchange groups.
According to preliminary results, 96 percent of votes cast at a special meeting in New York this morning approved the merger, the exchange states. The votes cast represent 66 percent of NYSE Euronext’s outstanding common shares.
The proposal required 50 percent approval from shareholders to pass.
‘This approval is an important milestone in our path to completing this combination, bringing us one step closer to creating the premier global venue for capital raising and a world leader in derivatives and risk management,’ says Duncan Niederauer, CEO of NYSE Euronext, in a statement on the exchange’s website.
Eyes will now turn to Deutsche Börse, the shareholders of which still have to approve the deal. The German exchange needs 75 percent of shareholders to accept the proposal by next Wednesday.
