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NYSE Acquires AMEX Without Hoopla

Many of you may be wondering if the NYSE Euronext acquisition of the American Stock Exchange (AMEX) is complete.  I don’t know about you, but amidst the economic turmoil we’re in, it occurred to me that I hadn’t heard about the status of the acquisition.  Apparently, the acquisition was completed on October 1, 2008.  And, did you know that the former AMEX has been renamed NYSE Alternext US LLC?  The Alternext market is not new.  It was formed in 2005 by Euronext, which became a division of NYSE after the 2006 merger of the two entities.  NYSE Euronext expects to have transitioned the AMEX trading platform to NYSE Euronext technology in December 2008.

 

PondelWilkinson, investor@pondel.com
 
 

NYSE Euronext to Acquire AMEX

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, lberman@pondel.com