"We like the standalone strategy and I think we felt we had a once in an industry opportunity to do a game changer," says Duncan Niederauer, NYSE Euronext CEO, who adds they are disappointed but not surprised about the merger falling through. The blocked merger is a missed opportunity for Europe and investors around the world he says; with Jan-Michiel Hessels, NYSE Euronext chairman, who adds the deal would accelerate the execution of the NYSE Euronext strategy, but the company is in good shape.» Read More
The plans to merge the Deutsche Boerse with the NYSE Euronext is “far from a done deal,” Benn Steil, a senior fellow at the Council of Foreign Relations and director of International Economics, told CNBC Tuesday.
There’s an air of paranoia on Wall Street about today’s NYSE spacer deal with the Germans. But history suggests it’s unjustified. Inevitably, the new business unveiled today will also be shaped over time by changing needs.
German exchange operator Deutsche Boerse Tuesday reported preliminary results for 2010, offering a glimpse of its financial picture on the same day the merger agreement with NYSE Euronext was announced.
While leaders of the Deutsche Boerse and the NYSE Euronext touted the advantages of creating the world’s large exchange operator on Tuesday, the reaction on this side of the Atlantic has been, at best, guarded and, at worst, strongly opposed to the deal.
See what's happening, who's talking and what will be making headlines on Tuesday's Squawk on the Street.
CNBC has confirmed that the board will consist of 17 members—10 of which will come from the Deutsche Borse, seven of which will come from NYSE Euronext.