NEW YORK (AP) — Deutsche Boerse and NYSE Euronext extended the deadline for their planned tie up, with European regulators showing few signs of allowing the deal to go forward due to concerns about marketplace competition.
In a form filed with the Securities and Exchange Commission last week, a day after U.S. regulators approved the deal, Deutsche Boerse AG said it was extending the termination date for the deal to March, meaning both parties can still walk away from the deal if not completed by the end of the year.
The $10 billion acquisition of NYSE Euronext Inc. would create the world's biggest exchange operator. NYSE Euronext owns exchanges in New York, Paris, Lisbon, Brussels, and Amsterdam.
The U.S. Department of Justice cleared the deal conditionally, demanding that Deutsche Boerse order one of its subsidiaries to sell its 31.5 percent stake in Direct Edge Holdings LLC. Direct Edge is the fourth-largest stock exchange operator in the U.S.
While there is an early February date on a decision from the European Union, that decision has been pushed back already with officials looking intensely at numerous areas where they fear the massive exchange company would quash competition.
Shares of NYSE Euronext fell 20 cents to $26.01 in morning trading.