| NYSE Euronext’s board affirmed its commitment to a merger with Deutsche Boerse AG, spurning an unsolicited offer from Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. and setting the stage for a possible decision by shareholders.
The directors voted unanimously to back NYSE Euronext Chief Executive Officer Duncan Niederauer’s agreement with Frankfurt- based Deutsche Boerse, saying it will create more long-term value and has greater odds of winning regulatory approval, according to a statement released after a meeting in New York. The board’s response “does not reflect the best interests of their shareholders,” Nasdaq OMX said..............................................Full Article: Source
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