NYSE Group proposes historic business combination with Euronext

By: Ray Pellecchia

File Under: NYSE

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Don't get me wrong. I'm all for this globalization thing, and it's cool to be here at the creation of something historic. But check out the time stamp on this post. If this keeps up, your humble blogger and a number of colleagues willl have to recruit a second shift.

Here's news release, which has the letter to Euronext linked within it. Excerpt:

The advantages of a combined NYSE Group-Euronext include:

A strategic partnership that creates the world's largest and most liquid global securities marketplace with a combined market capitalization of $21 billion (€16 billion);

A market leadership position in a diverse set of large and growing businesses, including cash equities, listings, equity options and futures, bonds and market data;

The world’s premier listing venue, with a total global market capitalization of listed companies at $27 trillion (€21 trillion), nearly three times that of the next largest marketplace and more than that of the next four exchanges combined;

Significant cost and revenue synergies totaling $375 million (€293 million), creating considerable earnings per share accretion, and substantial value creation for the respective shareholders of NYSE Group and Euronext;

An experienced global board and world-class leadership team, with group headquarters at NYSE Group’s current headquarters and European headquarters at Euronext’s headquarters, reinforcing Euronext’s role as the premier financial marketplace of continental Europe;

A shared commitment to cooperative multilateral regulation, saluting the effectiveness of Euronext’s College of Regulator model to enforce local rules;

A common vision of technology strategy and a horizontal business model; and

No competition issues, resulting in expedited closure and execution by an experienced management team.