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Sunday, February 13, 2011

US lawmaker told NYSE to lead merged exchange, (NYSE: NYX)

A top U.S. lawmaker on Sunday said he was told that officials at NYSE Euronext (NYX.N), in talks to be acquired by larger rival Deutsche Boerse (DB1Gn.DE), will have management control of the exchanges company if they merge. U.S. Senator Charles Schumer, a Democratic leader and member of the Senate Banking Committee, told reporters he met with Chief Executive Duncan Niederauer on Friday and again on Saturday. Though he reserves judgment until a final deal is announced, Schumer said there are "a number of things to like" about the proposed deal. Among them, "It will give managerial control of the new operation to the team from NYSE, with Mr. Niederauer installed as the new CEO," Schumer said in a prepared statement.

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