NYSE Euronext (NYSE: NYX) made an announcement that it has completed its acquisition of the American Stock Exchange. This deal has felt as though it has been on the books forever. We don’t know whether to say "Congrats!" or "Finally!" in this merger. We covered the original terms of the deal back on January 17, 2008. It’s been a tough time since then, although not because of the integration. NYSE shares were north of $80 for much of January, yet closed at $39.18 yesterday.
NYSE says it is becoming the third-largest U.S. options market andenhancing its leadership in ETFs, cash equities, closed-end funds andstructured products. It also expects that this merger will generateannualized run-rate cost savings in excess of $100 million by the endof 2009 and be accretive to earnings.
The NYSE expects the AMEX trading system to be retired and migrated toNYSE Euronext in December. The floor will be relocated in early 2009to the NYSE location. This deal was valued at $260 million in NYSEstock plus the distribution to exchange members for the sale proceedsof the AMEX headquarters in New York.
Jon C. Ogg
October 1, 2008
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
