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SEC approves Deutsche Börse/NYSE tie-up

by Ira Teinowitz  |  Published January 19, 2012 at 2:11 PM
NYSEEuronextLogoTradingFloor.jpgThe Securities and Exchange Commission has approved a rules change needed for Deutsche Börse AG's $9 billion-plus deal for NYSE Euronext.

The SEC acted Tuesday, Jan. 17, but announced the agreement Wednesday.

As part of the agreement, the businesses of NYSE Euronext and Deutsche Börse, including the U.S.-regulated subsidiaries of each, will become subsidiaries of Alpha Beta Netherlands Holding NV. The SEC said that rules change modifies corporate governance documents of U.S. subsidiaries including the voting and nomination procedures for exchange directors to reflect the new structure while preserving SEC regulation of the U.S. subsidiaries.

The changes would only take effect if the agreement is completed.

European Union regulators have reportedly recommended blocking the deal.

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Tags: Alpha Beta Netherlands Holding NV | Deutsche Borse AG | NYSE Euronext | SEC | Securities and Exchange Commission

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