Elizabeth Ladzinski
DNAinfo Reporter/Producer
MANHATTAN — Deutshe Boerse AG will acquire NYSE Euronext to form a yet-to-be-named stock exchange in a deal worth $10.2 billion, the New York Times reported Tuesday.
The merger, which gives shareholders in Germany 60 percent of the company, has sparked fear that New York might fade in importance in the world financial market, a sentiment shared by U.S. Senator Charles Schumer, who believes that NYSE should be listed first in the name, CNBC reported.
However, Mayor Micheal Bloomberg offered words of encouragement in a statement on Tuesday.
"The world doesn’t stand still, and neither can the New York Stock Exchange," Bloomberg said in a statement, adding, "And with the co-headquarters here in New York City, it reaffirms the central position that New York continues to play in the international financial system."
Chief Executive of NYSE Euronext Duncan Neiderauer said that choosing a name for the company would be an "emotional decision," according to CNBC.
The chairman of the new stock exchange will reportedly be Reto Francioni, CEO of Deutsche Boerse.
Once the merger is completed, investors will be able to access stock listings both in Europe and the U.S., according to the Times.
