Deutsche Borse and NYSE Euronext, two of the world's largest stock exchange operators, have said they are in 'advanced merger discussions', though they said no agreement had been reached.
The deal, if agreed, would give Deutsche Borse shareholders 59% to 60% ownership, and NYSE Euronext shareholders 40% to 41%, the companies said in a joint statement. Trading in shares of both companies had been halted earlier in the afternoon.
The news came on the same day that London Stock Exchange and Toronto Stock Exchange parent TMX Group said they agreed to a blockbuster trans-Atlantic merger.
The LSE earlier unveiled a deal to merge with TMX in a move creating one of the world's biggest trading platforms. The merger has been valued at £5.5 billion sterling.
The proposed tie-up with TMX, which operates the Toronto Stock Exchange, will make the new business a dominant player for mining company listings at a time of surging commodity prices.
It will have its headquarters in both London and Toronto and current LSE chief executive Xavier Rolet will continue in the role for the merged group.
While the combination has been presented as a merger of equals, existing LSE shareholders will hold 55% of the enlarged business.
With over 6,700 listings, the group will be the world's largest exchange by numbers of companies traded, with an aggregate market capitalisation in the region of £3.7 trillion sterling.
The groups, which entered into a strategic partnership in March 2009, confirmed last night that they were in talks over a merger and unveiled the terms of the deal in a stock market announcement this morning.
Subject to shareholder and regulatory approvals, the merger is expected to be completed in the second half of this year.
The move comes at a time of consolidation among the world's bourses after the Singaporean and Australian stock exchanges announced plans to merge.
