NYSE Euronext step up calls to back Deutsche bid

offer worth about US$10 billion from Deutsche Bourse as it unveiled robust first-quarter results.
The US-listed exchange, which is battling an aggressive counter-bid, yesterday narrowly missed average profit expectations but topped a mean revenue forecast, driven by derivatives trading, a clutch of new market listings and technology services.
But with some investors calling on NYSE to at least talk to cross-town arch-rival Nasdaq OMX, which is leading a counter-bid for NYSE worth around US$1 billion more, all eyes are on a New York shareholder meeting.
US-listed NYSE, which has repeatedly rejected Nasdaq and Intercontinental Exchange’s advances, insisted again it was confident growth prospects would be “enhanced and accelerated” by the proposed Deutsche Boerse merger.
“I look forward to articulating the power of the proposed combination at our annual stockholder meeting later today in New York,” said chief executive Duncan Niederauer.
Analysts welcomed the results, which saw net profit jump 19 percent on 5 percent higher revenues, and one market expert said the numbers underlined the strength of the NYSE management.
“These are solid results which will encourage shareholders that the NYSE management, and their plan to join with Deutsche Boerse, are credible,” said Herbie Skeete, managing director at exchange consultants Mondo Visione.
Market experts say NYSE still has a battle to convince investors to back a lower bid with its German merger partner. – Reuters.