NYSE Euronext won't fight Deutsche Boerse ruling

AP News
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Posted: Mar 22, 2012 12:38 PM
NYSE Euronext won't fight Deutsche Boerse ruling

NYSE Euronext says it won't appeal Europe's decision to block its acquisition by Deutsche Boerse, saying a long legal fight isn't in the best interests of its shareholders.

It may be allowing the German exchange operator to do the heavy lifting, at least in public. The announcement Thursday comes two days after Deutsche Boerse said it would sue the European Commission, which made the ruling.

NYSE Euronext still says the commission's ruling was based on an incorrect definition of the relevant market that would be affected by the deal. It believes that the combination of the two exchanges would benefit both customers and the trading industry.

The $10 billion buyout would create the world's largest exchange operator. The European Commission blocked the deal on Feb. 1.