NYX Nyse Euronext

NYSE Euronext (NYX) Chief Executive Duncan Niederauer said he is "a little disappointed" that the Big Board secured only 65.6% of all shares in favor of the deal, but remains confident the merger will pass the next step.

NYSE Euronext (NYX) investor-owners approved on Thursday a plan to merge with German exchange operator Deutsche Boerse AG (DB1.XE, DBOEF), moving ahead a plan to create the biggest exchange group in the world.

"We were hoping for a slightly higher number," Niederauer said in a meeting with reporters at the New York Stock Exchange following the special shareholder meeting. "We can't control who goes to the polls."

While the figure was lower than he expected, he expressed optimism that about 96% of shares voted were cast in favor of the deal.

"That gives us a lot of confidence," he said.

The merger plan agreed in February faces a higher threshold next week. Deutsche Boerse shares are due to be tendered in favor of the deal by July 13, with so far about 11% of shares turned in for the offer, according to documents filed Wednesday. The tender needs at least 75% approval to move to the next phase.

"It's hard to be supremely confident," Niederauer said. But he stressed that most institutional investors tend to submit their shares in the last few days of tender offers. Investors will also more likely be inclined to act at this point now that NYSE Euronext shareholders have voted in favor of the deal.

"Shareholder support is overwhelmingly in favor," he said. "This is very typical...It would be beyond surprising to me if that group did not tender as well."

Assuming the tender passes, Niederauer said two key priorities will be gaining regulatory approval and advancing the integration process with Deutsche Boerse.

When asked about potential job cuts following the completion of the deal, Niederauer acknowledged there will be synergies. He noted more than 2/3 of the employees of the new company will be based outside the U.S.

He said it is "way too premature" to speculate on how many job cuts may occur.

-By Steven Russolillo, Dow Jones Newswires; 212-416-2180;

steven.russolillo@dowjones.com

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