Germans to Buy NYSE; Hasselhoff to Chair Federal Reserve?
Deutsche Boerse, the owner of the German stock exchange, is in talks to purchase the NYSE. Apparently they're taking "buy low" to heart. The Post reports that NYSE Euronet, current owner of the New York Stock Exchange, was going to reveal the news next Tuesday, but rumors forced them to release some marginal details about the move earlier.
These tidbits of info include:
- Deutsche Boerse would own 59 to 60 percent of the company.
- It would maintain headquarters in both New York and Frankfurt.
- The chief executive of NYSE Euronet, Duncan Niederauer, would be its CEO, with Deutsche Boerse chief executive Reto Francioni its chairman.
Reports say the primary motivation behind this move is to compete with the CME group, the conglomerate that operates the Chicago Mercantile Exchange. If this impacts you personally, shouldn't you be reading the Wall Street Journal? Seriously, those guys eat this crap up. We're just going to show you the scene from Trading Places where Randolph and Mortimer Duke teach Eddie Murphy about commodities:
Now, that's analysis!