Deutsche Boerse AG is in advanced talks to buy NYSE Euronext in an all-stock transaction that would create the world’s biggest equity exchange. NYSE and Deutsche Boerse said they will produce ¤300 million ($410 million) in cost savings, according to a statement. Duncan Niederauer, New York-based NYSE Euronext’s chief executive officer, will hold the same job at the combined company. Frankfurt-based Reto Francioni, chief executive officer of Deutsche Boerse, will be chairman. Deutsche Boerse will own about 59 per cent to 60 per cent of the joined corporation.
Their total market value of $25.9 billion exceeds Hong Kong Exchanges & Clearing Ltd, currently the world’s largest exchange operator by market capitalisation.
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