Wall Street Journal – Euronext NV management will today launch a last-ditch attempt to persuade shareholders to support it against hedge funds that want it to consider merging only with Frankfurt’sDeutsche Boerse AG, a person close to the company said.
The pan-European bourse operator has promised to discuss a range of merger or partnership options at its annual general meeting scheduled for May 23, and said that although tying with Deutsche Boerse remains a “serious option,” it still wants to look at other possibilities.
The company halted talks with London Stock Exchange PLC, but has had informal contacts with both NYSE Group Inc. and Chicago Mercantile Exchange, people familiar with the matter said.
Euronext, which reported first-quarter results yesterday, brought forward the publication of its results from May 23 to free it from a two-week blackout period that would otherwise prevent it from talking with shareholders. It hopes to persuade waverers that with widespread stock market consolidation on the way, it should avoid being restricted to talking with only one player.
It said first-quarter net profit more than doubled, helped by buoyant cash and derivatives markets. Net profit rose to €107.1 million ($136.1 million) from €45.3 million a year earlier.
