The membership group at the American Stock Exchange LLC today overwhelmingly approved the bourse’s merger with New York-based NYSE Euronext Inc., the parent company of the New York Stock Exchange.
Members of The Amex Membership Corp. voted 695 to 7 in favor of the merger, which is expected to close as early as August.
Under the terms of the deal, NYSE Euronext will pay $260 million in common stock for Amex.
Additionally, Amex members will be entitled to receive additional shares of NYSE Euronext common stock, based on the net proceeds from the sale of the Amex’s New York headquarters.
The Securities and Exchange Commission still must approve rule changes related to the deal.
When the deal was announced in January, NYSE Euronext said that the merger would significantly enhance its scale in U.S. options, exchange traded funds, closed-end funds, structured products and cash equities.
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