NYFIX shareholders have approved its proposed acquisition by NYSE Technologies, a subsidiary of NYSE Euronext, with 98% voting in favour. The total value of the deal is approximately $144 million, with NYFIX stockholders receiving $1.675 in cash, without interest, for each share of NYFIX common stock.
In the NYSE Euronext earnings call for Q3 2009, Duncan Niederauer, CEO of NYSE Euronext said: We have not traditionally had a strong sales channel into the buy side community. So, this acquisition gives us access to a new set of customers for our technology product offering.
In a company statements regarding the deal, Howard Edelstein, chief executive officer of NYFIX said: “We are pleased with the approval vote, which allows us to proceed with a transaction that represents substantial value for NYFIX stockholders and will provide tremendous benefits to our clients by combining two of the industry’s leading trading communities.
Giles TurnerNews Editor