Deutsche Borse has given Euronext an altered version of its bid for the exchange.
Under the revised offer, Euronext would be allowed to choose the combined exchange’s CEO, and the exchange’s headquarters would not be required to be located in Frankfurt but would be split among Paris, Amsterdam and Frankfurt.
Deutsche Borse has been pursuing a merger with Euronext since May but has faced fierce competition form NYSE, who has already entered into a $10 billion deal with Euronext.
This deal has not yet been finalized, and some experts say shareholders might vote against it, preferring the pan-European exchange proposed by Deutsche Borse over what would be the first trans-Atlantic exchange.