Deutsche Boerse shares rocket as NYSE Euronext buyout talks progess

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The news emerged late yesterday afternoon just hours after the London Stock Exchange announced its far more modest deal to merge with the Toronto Stock Exchange.

Deutsche Boerse shares, which were halted on Wednesday afternoon along with those of NYSE Euronext, were expected to rise 8.4% in early trading today, according to data from brokerage Lang & Schwarz.

"The finalisation and closing of the transaction will take some time. A shareholder meeting will be necessary," DZ Bank analyst Matthias Duerr said.

"We would expect a positive share price reaction of up to 5% and will raise our fair value and confirm our (buy) recommendation."

Deutsche Boerse and NYSE Euronext said they could cut costs by 300 million a year in a merger, though adding that no accord had been reached yet.