New York Stock Exchange to buy European rival

The New York Stock Exchange is to buy Euronext for about $10bn (€7.8bn) in cash and stock, creating the first transatlantic securities market in a deal that would pressure rival exchanges to consolidate.

NYSE Group trumped a competing bid by Deutsche Boerse AG to acquire Paris-based Euronext NV, which operates stock markets in Paris, Amsterdam, Brussels and Lisbon.