Deutsche Boerse says no squeeze-out in NYSE deal

By @ibtimes on

Deutsche Boerse late on Thursday said shareholders in the Frankfurt-based exchange operator who had not yet tendered their stock as part of the NYSE Euronext deal, would not be forced to do so as part of a so-called squeeze-out.

Around 95.41 percent of Deutsche Boerse's shareholders have already tendered their shares to Netherlands-based holding company Alpha Beta Holding, the vehicle used to complete the deal with the operator of the New York Stock exchange.

Gregor Pottmeyer, chief financial officer of Deutsche Boerse AG, said, Effecting a squeeze out is not at all necessary to achieve our financial and synergy goals. Deutsche Boerse shareholders who have not yet accepted the exchange offer can do so at unchanged conditions until midnight CET on November 4, 2011.

Duncan Niederauer, chief executive of NYSE Euronext, said, The overwhelming support we received from both of our shareowner bases has provided us with the maximum flexibility to act in the long term best interest of the new company, and we intend to use this flexibility to generate the strongest possible returns for the future shareowners of Holdco.

(Reporting By Edward Taylor)

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