Deutsche Boerse's (DB1Gn.DE) works council is refusing to back a merger proposal with NYSE Euronext (NYX.N), two people familiar with the company's thinking said on Tuesday. Deutsche Boerse is close to releasing a formal statement on behalf of the management and supervisory board, a formal part of German corporate governance in a takeover situation. In negotiations to formulate the official statements, it emerged that the works council representatives refuse to recommend the potential merger with the operator of the New York Stock Exchange, the sources said. Deutsche Boerse declined to comment.
NYSE Euronext is a global operator of financial markets and provider of trading technologies. Shares of NYX remained unchanged at $40.64. In the past year, the shares have traded as low as $26.42 and as high as $41.18. On average, 6107600 shares of NYX exchange hands on a given day and today's volume is recorded at 1000.
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