Deals
Francioni Wins NYSE After Losing With Niederauer CEO
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Four years after losing to the New York Stock Exchange in the takeover of Euronext NV, Deutsche Boerse AG’s Reto Francioni is buying both companies and putting his rival’s chief executive officer, Duncan Niederauer, in charge.
Francioni, the 55-year-old CEO of Frankfurt-based Deutsche Boerse, will become chairman should the takeover of NYSE Euronext succeed. The companies said Feb. 9 that they are in advanced talks to create the world’s largest exchange. Deutsche Boerse would pay about $10 billion in stock and control 60 percent of the combined corporation.