Burn Your Pencils & Paper: NYSE Merger Almost Final

Hold onto your seats! Shortly after 4 p.m. tomorrow all the NYSE members’ votes will be tallied and the exchange’s decision to merge with online marketplace Archipelago final. Don’t expect any surprises either. Ken Langone polled the membership recently and found that only 13% were unhappy about the 70% stake in the combined entity that is to be divvied up among seat holders. Clearly, the market agrees: While the price of a seat has doubled to $4 million since April, shares of Archipelago have tripled. Doesn’t sound like anyone has anything to complain about.
Framing the Issue Wall Street Journal]
NYSE Seat Prices Rise 7% Under The Counter]

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