« The Shorter Barron's on Yahoo | Main | Homework Reading on Option Backdating »
Latest Stories
- The Myth of the Angel Investor
- Pete Peterson on Subprime, Bailouts, etc.
- Yahoo's Jerry Yang Needs to Get on With Things
- The Mortgage Bankers Association Mortgage Problem
- Graphical Look at Real House Price Declines
May 22, 2006
Playing with Exchanges
Want to know why Euronext is the subject of a bidding war, and which exchanges are likely in play? Just look at the 2005 list of largest IPOs, and then see where their primary exchange is located. Notice: U.S. exchanges are conspicious by their almost complete absence.
[Update] More here from the NYSE's John Thain during this morning's analyst call, who makes clear why the deal is immediately accretive to shareholders -- cost-cutting:
John Thain - NYSE Group Inc. - CEO
... to give you an idea, we believe that there are $100 million of revenue synergies, really opportunities for us to expand into new products combining the two entities. And $275 million of expense synergies of which 250 are really technology related. And that's really where we spent a huge amount of time.
Sphere It
| 
Digg it
| 
Bookmark it
| 
Stumble it
The question is: Why the disparity?
The answer - presumably - is listing requirements, including Sarbanes-Oxley, etc.
The next question, then, is: What are the likely long-term impacts of this disparity / the underlying *causes* of this disparity?...
I am new to your blog, but curious whether this is the sort of thing you think about, and comment on.