Shareholder Fights $10B NYSE-Deutsche Boerse Deal

Law360, New York (February 16, 2011, 6:36 PM EST) -- An NYSE Euronext Inc. shareholder has hit the securities exchange operator with a class action seeking to block its planned $10 billion acquisition by Deutsche Boerse AG, saying the offer was “grossly inadequate.”

Shareholder Samuel Cohen alleged in a complaint filed Tuesday in the Delaware Court of Chancery that NYSE and several of its executives, including board chairman Jan-Michel Hessels, breached their fiduciary duty to shareholders by approving the deal after a flawed sales process.

NYSE and Deutsche Boerse on Tuesday announced the merger, under which...
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