Deutsche Boerse Must Sell Direct Edge Stake For NYSE Deal

Law360, New York (December 22, 2011, 5:58 PM EST) -- Deutsche Boerse AG unit International Securities Exchange Holdings Inc. must unload its 31.5 percent stake in Direct Edge Holdings LLC before Deutsche Boerse can move forward with its planned $9.7 billion merger with NYSE Euronext, U.S. antitrust regulators said Thursday.

The U.S. Department of Justice said that unless ISE drops its stake in Direct Edge, the fourth-largest stock operator in the U.S., and agrees to other restrictions, the merger would harm competition.

Controversy has surrounded the deal since it was first announced in February, with regulators...
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