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NYSE Euronext (NYX)

 
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Author NYSE Euronext (NYX)
HenryTo
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PostPosted: Thu Jun 09, 2011 6:52 am    Post subject: NYSE Euronext (NYX) Reply with quote
Morningstar's update on the Deutsche Boerse and NYSE Euronext merger:

Quote:
Deutsche Boerse and NYSE Euronext NYX have recommended to the board of directors a special dividend of EUR 2 per share of the new company upon the closing of their merger. The Deutsche Boerse-NYSE Euronext merger is still contingent upon gaining regulatory and shareholder approval. The special dividend would translate into EUR 2 per share for current holders of Deutsche Boerse and EUR 0.94 per share of NYSE Euronext, based on the proposed merger exchange ratio. Since our future free cash flow assumptions are unchanged, and the decrease in excess cash for the combined company won't be material, we don't anticipate changing our fair value estimate for the companies. Deutsche Boerse also announced that it plans to buy the remaining stake in derivatives trading platform Eurex that it doesn't already own from SIX Group. Deutsche Boerse plans to pay EUR 295 million in cash and EUR 295 million in stock of the Deutsche Boerse-NYSE Euronext merged entity. The deal is expected to close in early 2012, following the merger of Deutsche Boerse and NYSE Euronext. We believe the consideration for the Eurex stake appears reasonable.
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PostPosted: Thu Jun 09, 2011 8:14 am    Post subject: Reply with quote
We're all learning to miss the buyers of last resort, the Specialists. Crying or Very sad
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