Corporations and securities brief ~ NYSE submits merger filing, will be publicly traded

Corporations and securities brief ~ NYSE submits merger filing, will be publicly traded

[JURIST] Leading Thursday's corporations and securities law news, the New York Stock Exchange [corporate website] (NYSE) has informed the SEC of its intentions to merge with electronic exchange unit Archipelago [corporate website] and form a publicly traded company. In a preliminary filing [PDF file] with the SEC, the companies said that current seat-owners on the exchange will control 70% of the new entity. In a press release, the NYSE said shareholders of both companies will vote on the proposed merger later this year. USA Today has more,

In other corporations and securities law news…

  • A Bloomberg report says that President Bush's new energy bill will call for gas companies to provide $3-4 billion towards cleaning up MTBE [Wikipedia entry]. The provision is seen as a compromise between gas companies that would also receive immunity from litigation over MTBE and senators from the states most affected by MTBE contamination who have opposed immunity for the companies.