From Earlier: NYSE Euronext Statement on EU Decision to Prohibit Merger; Announces Resumption of $550M Stock Repurchase Program

Symbols: NYX
Posted in: News, Buybacks
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NYSE Euronext (NYSE: NYX) announced today that in light of the decision by the European Commission to prohibit its proposed combination with Deutsche Boerse, the companies are in discussions to terminate their merger agreement.

NYSE Euronext said it would focus on the successful standalone strategy that has delivered strong growth and diversification of its core businesses and that it would leverage its financial strength to return capital to shareholders. In that regard, NYSE Euronext announced its intent to resume a $550 million share repurchase program following the termination of the merger agreement and after the release of its fourth quarter and 2011 year-end results on February 10, 2012.

Following termination of the merger agreement with DB, share repurchases may be executed at the discretion of management in open market or privately negotiated transactions or otherwise, subject to applicable United States and European laws, regulations and approvals, strategic considerations, market conditions and other factors. The $550 million buy-back is being executed under a $1.0 billion Board authorization established in March of 2008.


 
 
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