NYSE-Euronext Deal Wins Approval

Shareholders of NYSE Group(NYX Quote) are giving a thumbs up to the acquisition of Euronext.

According to preliminary results, approximately 99.7% of voting shareholders approved the $14 billion deal during a special vote on Wednesday morning, the parent of the New York Stock Exchange says. More than 75% of eligible shares were voted, according to the exchange.

Shareholders of Euronext, which runs exchanges in Paris, Amsterdam and Brussels, among other cities, approved the deal on Tuesday.

Shareholder approval was anticipated; NYSE's stock was recently down $1.31, or 1.3%, to $102.02.

The acquisition, which is expected to close in the first quarter of 2007, would create the first trans-Atlantic and largest cash equities exchange with a market capitalization of $27 billion.

"This is a historic day for NYSE Group and reaffirms our leadership position in global financial markets," says John Thain, NYSE's CEO. "Winning the approval of NYSE Group and Euronext shareholders enables us to move forward with our shared vision of building the first truly global exchange group."

The deal still needs regulatory approval.

The NYSE-Euronext combination is in stark contrast to Nasdaq Stock Market's(NDAQ Quote) hostile bid for the London Stock Exchange.

On Tuesday, the London bourse formally rejected the Nasdaq's $5.3 billion offer, calling the proposal "wholly inadequate.'' The Nasdaq, which owns a 29% equity stake in the London exchange, has given other LSE shareholders until Jan. 11 to accept its so-called final offer. But under British takeover rules, the Nasdaq can extend the deadline for LSE shareholders to vote on the proposal.