Reuters: Deals: NYSE says will not appeal veto of D. Boerse deal

Reuters: Deals Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

NYSE says will not appeal veto of D. Boerse deal Mar 22nd 2012, 14:47 Tweet Share this Email Print Related News Deutsche Boerse to sue EU over veto of NYSE deal Mon, Mar 19 2012 UPS's international footprint to grow with TNT deal Mon, Mar 19 2012 Analysis & Opinion ECB old boys speak their minds Press Round-up – March 20 Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » An NYSE sign is seen over the trading floor of the New York Stock Exchange July 7, 2011. Credit: Reuters/Brendan McDermid NEW YORK | Thu Mar 22, 2012 11:15am EDT NEW YORK (Reuters) - NYSE Euronext said on Thursday it would not join Deutsche Boerse in appealing the European Commission's decision to prohibit the $7.4 billion merger between the two exchange operators. The deal would have created the world's largest exchange. European regulators argued it would have given the combined group a near monopoly in the worldwide market for European derivatives. Frustrated by the ruling and how it defined the derivatives market, Deutsche Boerse said on Monday it was appealing to Europe's General Court, the lower chamber of the European Court of Justice. NYSE said that while it believes the European Commission's decision was based on an incorrect market definition, it does not believe the interests of its shareholders and of the company itself would be served by getting involved in a protracted appeal. "We remain convinced of the original rationale for the proposed combination and the many benefits it would have created for the industry, our customers and the European economy," NYSE said in a statement. "However, as we said at the time of the prohibition, our sole focus has returned to executing our strategy and leveraging the significant opportunities we have to grow the business and continue to create long-term value for our shareholders, customers and employees." Antitrust lawyers have said they see little chance of success in Deutsche Boerse's appeal and that it may be challenging the ruling only to ease the way for future deals. (Reporting By John McCrank) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions