Germans Might Acquire NYSE: Should Wall Street Jewel Fall Into Foreign Hands?
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Feb. 10, 2011— -- One of the crown jewels of U.S. capitalism may soon fall into foreign hands. The New York Stock Exchange is in negotiations to be acquired by a German stock exchange Deutsche Borse AG.
While both companies suggest that it is a merger of equals, Deutsche Borse shareholders would control about 60 percent of the combined company.
News of the planned merger comes after years of consolidation among stock markets around the world, but the thought of the storied Wall Street exchange falling under German control might rankle some people, including members of Congress.
The Wall Street Journal reports today that the acquisition is symbolic of New York's "fading dominance" as a global financial center. The NYSE traces its history on Wall Street to 1792.
Our question to you today: Are you concerned about the possible merger for the New York Stock Exchange?
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