NYSE Euronext (NYX.N) and Deutsche Boerse AG (DB1Gn.DE) agreed to pay roughly $900 million of dividends to settle U.S. shareholder lawsuits challenging their roughly $10 billion merger to create the world's largest exchange operator. According to an agreement filed on June 17 with the Delaware Chancery Court, the companies would pay shareholders 2 euros (US$2.85) per share outstanding of the combined holding company after the planned merger is completed. The agreement requires court approval, and would end shareholder lawsuits in New York and Delaware state courts. It essentially reflects the special dividend that the companies announced on June 7, and which would be paid once a merger closes. Shareholders had sued NYSE Euronext shortly after that company announced its planned sale to its German counterpart in February. They complained that the takeover price was too low, and that the company should have courted other bidders.
NYSE Euronext is a global operator of financial markets and provider of trading technologies. Shares of NYX fell by 2.7% or $-0.91/share to $32.76. In the past year, the shares have traded as low as $26.58 and as high as $41.60. On average, 4731440 shares of NYX exchange hands on a given day and today's volume is recorded at 4844681.
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