Deutsche Boerse/NYSE Still Sees EUR400 Million Annual Cost Savings
01 Giugno 2011 - 2:35PM
Dow Jones News
Stock exchanges Deutsche Boerse AG (DB1.XE) and NYSE Euronext
(NYX) Wednesday said they expect cash flows of EUR1.5 billion
annually through their planned merger to create the world's largest
stock and derivatives trading platform.
The exchanges further reiterated they see at least EUR150
million in annual revenue synergies through their merger, as well
as EUR400 million in cost savings.
In an investors' presentation published Wednesday, the exchanges
outlined their latest progress in meetings with regulators in the
U.S. and Europe who need to sign off on the merger. The exchanges
further said they had created integration teams and project offices
ahead of the merger, and continue to add details to their synergy
plan.
South America, Eastern Europe--especially Russia--and Asia are
all regions in which the two exchanges hope to expand, the
companies said.
Deutsche Boerse and NYSE executives were speaking at an
investors' conference in Frankfurt Wednesday as part of ongoing
efforts to win shareholders' approval for the merger plans.
NYSE shareholders will vote on the merger proposal on July 7,
and Deutsche Boerse shareholders have until July 13 to tender
shares in a merged company.
-By William Launder, Dow Jones Newswires; +49(0)6929725515;
william.launder@dowjones.com
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