NYSE Euronext, the owner of the New York Stock Exchange, announced that it has entered into an agreement to purchase the American Stock Exchange (Amex) for $260 million in NYSE Euronext stock. As part of the transaction, current Amex members will be entitled to receive additional shares of NYSE Euronext common stock based on the net proceeds from the expected sale of Amex’s lower Manhattan headquarters.
The deal is expected to close in the third quarter of 2008. No word yet on what impact, if any, the merger will have on Amex listed companies.
– Laurie Berman, Senior Vice President, email@example.com