Deutsche Börse and NYSE Euronext are in talks to set up a combined group. Deutsche Börse shareholders will hold nearly 59-60% of the new group, while NYSE Euronext shareholders will hold about 40-41% if any deal is signed. Any deal will need approval of the two companies’ boards, regulatory and shareholder approvals.

The combined new entity, which will have dual headquarters in New York and Frankfurt, is expected to generate around €300 million in cost synergies. The new group’s Chairman will be Reto Francioni, based in Frankfurt, and the CEO will be Duncan Niederauer, based in New York.

Click here for the release from Deutsche Börse.