Brazilian Exchanges Enter Defensive Pact
"Locally and globally, [the integration] makes them stronger," says Tom Price, senior analyst with research firm TowerGroup. "There's still potential for them to be taken over, but it makes it harder to swallow," he adds.
According to Price, the merger could be seen as a preemptive strike against potential buyers from outside the region, such as NYSE Euronext or multilateral trading facility (MTF) Chi-X.
Although the deal has yet to receive shareholder approval, the two exchanges have outlined a
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