Deutsche Boerse will have upper hand in NYSE merger - CEO (Reuters)
Sunday, March 6, 2011 11:01 AM By dwi
FRANKFURT (Reuters) – Deutsche Boerse (DB1Gn.DE) will have the upper assistance in the planned mega-merger care with NYSE Euronext (NYX.N), the exchange operators' honcho executive told a paper, as fears of weakening significance linger.
The proposed $10.2 1000000000 (6.2 1000000000 pounds) takeover of NYSE Euronext by Deutsche Boerse unveiled last period would leave Boerse's shareholders with 60 percent of the combined entity, but analysts have cautioned that the consort haw end up with inferior power. In a letter from NYSE Euronext Chief Executive Duncan Niederauer to NYSE staff, the care was touted as a "merger of digit enthusiastic companies, not a understanding or an acquisition," with city and New royalty both aborning winners.
But a near countenance at a integration filing with the Securities and Exchange Commission reveals that in the daylong run, the New royalty bourse could get the upper hand, despite Deutsche Boerse's larger size.
In an excerpt of an interview with Teutonic playing regular Handelsblatt to be publicised on Monday, Deutsche Boerse Chief Executive Reto Francioni said the broad market capitalization "puts us (Deutsche Boerse) in a position to do this care the way we envisage it."
He was also quoted as saying that the synergies of the care haw be higher than the $300 million due so far, adding that city as a business market locate would be strong by the deal.
"Loss anxiousness is absolutely misplaced," Francioni, who would become chair of the combined company, said, adding no decision had been prefabricated still on the name.
(Reporting by Christoph Steitz; Editing by Jon Loades-Carter)
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