German stock market operator Deutsche Boerse on Wednesday said it had withdrawn its takeover offer for pan-European rival Euronext.
The German operator had been battling to convince its Paris-based rival of the logic of a tie-up in the face of a rival takeover offer, preferred by Euronext management, from the New York Stock Exchange.
”Deutsche Boerse has decided not to pursue its plans to merge with Euronext,” the operator of the Frankfurt Stock Exchange said in a statement.
It said the decision was because it could not agree with Euronext on a merger that would suit both parties, and because Deutsche Boerse shareholders did not stand to gain from the takeover. – Sapa-AFP