Deutsche Boerse shareholders approved its $9.4 billion takeover of NYSE Euronext, another step toward completing a deal that would create the world's biggest bourse operator.
Owners holding more than 80% of Deutsche Boerse shares backed the agreement, surpassing the 75% needed for approval, according to a statement from the German exchange Thursday. The all-stock transaction will give Deutsche Boerse 60% of the combined entity, while NYSE Euronext CEO Duncan Niederauer will run the organization.
The approval clears the second of three main obstacles for the takeover after NYSE shareholders voted in favor of the transaction on July 7. European regulators, who set an initial deadline of Aug. 4 to rule on the deal, are reviewing the transaction because it would unite venues that handle more than 90% of the region's exchange-traded derivatives.
The combined company would have operations in 11 countries and generate €5.6 billion ($8 billion) in sales and €869 million in profit annually, according to a regulatory filing. Earnings before interest and taxes for the combined exchange would have been €1.1 billion for the year that ended Dec. 31.