US approves Deutsche Boerse/NYSE Euronext deal
The US Department of Justice has supported a merger between Deutsche Boerse and NYSE Euronext.
A deal between stock exchange operators Deutsche Boerse and NYSE Euronext has been approved by the US Department of Justice (DOJ), which may come as a relief to the companies' merger and acquisition advisors.
The agreement between the two firms has hit opposition in Europe, where antitrust officials are still not giving it their backing.
Sources recently told Reuters the businesses had offered to create a competitor to reduce the possibility they would create a monopoly in the market.
To gain the backing of the DOJ, Deutsche Boerse's International Securities Exchange had to sell its 31.5 per cent stake in US stock exchange Direct Edge.
Deutsche Boerse stated the decision of the US officials "represents an important regulatory milestone for the merger".
However, another recent article from Reuters cited sources saying the European Commission is no closer to approving the deal.
It was revealed by Deutsche Boerse that the panel will make a final decision by February 9th 2012.
Posted by Ron Maverick
Source: Deutsche Boerse press release, December 22nd