By Shira Ovide
- Associated Press
If the NYSE-Deutsche Börse-Nasdaq-OMX-Euronext-ICE deal kerfuffle needs an extra dose of drama, check out this remarkable document from Nasdaq OMX.
The PowerPoint presentation insults the deal making and integration track record for NYSE and Deutsche Börse. In a table contrasting “The Promise” and “The Reality” Nasdaq says the Big Board hasn’t lived up to its promises for shareholders in its prior merger with Euronext. Here’s a sample:
The Promise
“This merger…will deliver significant shareholder value from substantial, quantified and deliverable synergies.” – NYSE Press Release, 1 June 2006
The Reality
“NYSE has a long way to go before benefits are fully realized. Investors should not expect significant EPS growth in the near term.” – Deutsche Bank Analyst Note, 11 February 2009
CLICK HERE to read the document. The M&A zingers start on page 18.
someone needs to stand up for the rights fo shareholders. The process is flawed.