The EU’s second-highest court heard arguments over the European Commission’s decision to block Deutsche Boerse’s attempted merger with NYSE Euronext, reports say.
While Deutsche Boerse may not necessarily be looking to resurrect the failed stock exchange merger, blocked by the Commission in 2012, reports say Deutsche Boerse is fighting the Commission’s ruling in the EU General Court to protect future acquisition attempts. A legal representative for the Germany exchange told the Court Wednesday that the Commission’s decision set a “negative precedent.”
The two exchanges looked to merge in a $9.5 billion deal but EU authorities found Deutsche Boerse would hold a near monopoly in the exchange-traded derivatives market.
Since regulators’ 2012 ruling, NYSE Euronext was bought out by IntercontinentalExchange.
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.