April 28, 2011
Shareholders at NYSE Euronext Annual Meeting: Talk to NASDAQ/ICE
The much-anticipated annual meeting of NYSE Euronext was held today, and, as expected, many shareholders wanted to know why the board didn't want to meet with unwelcome suitors NASDAQ/ICE about their bid. According to Chairman Jan-Michel Hessels, the board saw "no reason to meet with them." The shareholders reelected the directors by an estimated 80% approval; before the meeting, some suggested that an approval rate of 70-75% would indicate shareholder dissatisfaction. Shareholders also adopted a provision that would allow shareholders holding 10% of the common shares to call a special meeting.
A special meeting to vote on the Deutsche Boerse merger proposal is scheduled for July 7.
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