New York stock exchange bids for Euronext
A tie-up between two former suitors of the London Stock Exchange looked on the cards today after a proposed merger between New York and Paris was launched.
The New York Stock Exchange unveiled a cash and share bid for pan-European operator Euronext after both bourses turned their backs on LSE.
Euronext today said it will consider the proposal from NYSE along with a rival offer from Deutsche Boerse ahead of tomorrow’s annual meeting.
Both NYSE and Euronext have held talks with the LSE in the past but may now decide the best option is to press on with their own £11.25bn (€16.5bn) merger.
Deutsche Boerse has also shown interest in LSE with a failed £1.35bn (€2bn) approach in late 2004.
Since then the value of the LSE has soared and its shares have more than trebled after the Nasdaq exchange took its stake to 25.1%.
