Merger talks betweenNYSE/Euronext and Deutsche Boerse are on track, and a deal announcement is likely to be Tuesday.
The NYSE board meets Sunday for an update on the deal's progress, and a vote would be set for a later time, a source familiar with the situation said. The Deutsche Boerse board holds a regularly scheduled meeting Tuesday morning, and it is expected to vote on the merger proposal at that time. The Frankfurt-based exchange also announces earnings that day.
The exchanges announced the merger talks Wednesday after word leaked out in Germany. Sources have said the deal is close to being finalized and would involve Deutsche Boerse exchanging its shares for NYSE shares at an implied premium of about 10 percent.
The proposed merger follows closely on news this week that the Toronto TSX and the LSE would merge. The stocks of other exchanges, such as CME, CBOE, ICE and Nasdaq/OMX all moved higher this week on speculation they too would be looking for partners.
Questions? Comments? Email us at email@example.com