Euronext to “carefully review all available options”

Euronext has increased speculation about future exchange consolidation in both the US and Europe, after it issued a statement insisting it was still open to all offers. The statement said the company would seek value for all its shareholders in any possible deal.

The move was seen by some parties as a rebuff to a group of shareholders pressuring for a merger between Euronext and its rival Deutsche Börse. Hedge funds TCI and Atticus Capital together have a 20% stake in Euronext and a 5% stake in Deutsche Börse, and both are believed to be keen for a merger between the two exchanges.

“In assessing any potential combination, Euronext will [look at] the value to be created for all its shareholders,” the company said in a statement. “It will also, as required by Dutch company law, carefully consider the interests of its other stakeholders.” However, the statement did say an approach from its German rival would provide the “best possible approach for creating a truly European exchange organisation”.

The exchange said it would “carefully review all available options” before recommending a course of action to shareholders at the company’s annual general meeting on May 23.

Euronext provides stock and derivatives markets in Belgium, France, the Netherlands, Portugal and the UK. It is Europe’s leading stock exchange based on trading volumes. During the current time of intense consolidation talk, it has been cited as a possible merger partner for the London Stock Exchange, Nasdaq, the New York Stock Exchange and the Chicago Mercantile Exchange.