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Wednesday May 11, 08:45
NYSE deal: who will sell first?
(by Brigitta Zulfitzler)

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NYSE deal: who will sell first? The deal with the New York Stock Exchange evokes questions from its shareholders that disagree with the possibility for other players to sell their stakes sooner.

The New York Stock Exchange is expected to purchase Archipelago Holdings Inc. and go public. The merger, though, remains disputable.

The three key shareholders of Archipelago are: Goldman Sachs Group Inc., private-equity firm General Atlantic Partners and an entity controlled by Archipelago Chief Executive Jerry Putnam. Some analysts say that the three companies will have the right to sell their shares in the new company up to two years before the NYSE shareholders.

The NYSE’s 1,366 members disagree with the possibility and may delay the approval of the deal as their votes are necessary for the merger.

The NYSE executives do their best to soothe the situation saying they will try "to release a portion of the stock into the market as soon as practicable after the closing of the deal and to continue to release stock periodically." «The final proposal will reflect the input of our members,» according to the NYSE spokesman.
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