NYSE Euronext will not join DB in appeal against merger prohibition
First Published 23rd March 2012
NYSE Euronext statement regarding decision not to appeal European Commission prohibition of merger
New York - NYSE Euronext (NYX) has announced that it will not pursue an appeal of the decision by the European Commission to prohibit its proposed combination with Deutsche Boerse.
"While we continue to believe that the European Commission decision was based on an incorrect determination of the relevant market definition, we do not believe that the interests of our shareholders and our company would be served by undertaking 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. 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."