NYSE Euronext and the Deutsche Borse have come to terms. Terms for a $10 billion combination that will create the largest exchange operator and provider of technology, custody and other services in the world.
The two marriage partners did not describe this as a ‘merger of equals.’ Deutche Borse shareholders, after all, will have 60% control. But NYSE Euronext chief executive Duncan Niederauer says it’s not a takeover.
So what is it?
Here is a statistical, organizational and competitive rundown on the combination that will result, from NYSE Euronext's and Deutsche Borse's own presentations.