NEW YORK (TheStreet) -- Once Deutsche Boerse completes its takeover agreement with NYSE Euronext (NYX), the parent of the New York Stock Exchange, the 17-member board of the combined firm will mostly be drawn from the Germany company, The Wall Street Journal reports.
The combined company's board is likely to be divided to reflect the roughly 60% stake that would be held by current shareholders of Deutsche Boerse if the deal is completed, a person familiar with the matter told the newspaper. That would mean 10 directors from Deutsche Boerse and seven from NYSE Euronext.
The new board is expected to have a one-tier structure, according to a person familiar with the situation, the Journal reports, noting that a two-tier structure is more common at German companies.
Duncan Niederauer, chief executive of NYSE Euronext, is likely to be CEO of the new company, which will be the world's largest exchange operator.A formal announcement of the deal is expected Tuesday between 8:30 a.m. and 9:30 a.m. EST, the Journal says. A news conference has been tentatively scheduled for 10 a.m. -- Written by Joseph Woelfel
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