NYFIX Stockholders Approve Acquisition by NYSE Euronext

Tue Nov 3, 2009 4:06pm EST
 
[-] Text [+]
NEW YORK, Nov. 3, 2009 (GLOBE NEWSWIRE) -- NYFIX, Inc. (Nasdaq:NYFX), a leading
provider of innovative solutions that optimize trading efficiency, announced
that its stockholders have voted to approve the proposed acquisition of NYFIX by
NYSE Technologies, Inc., a subsidiary of NYSE Euronext (NYX), at a special
meeting of NYFIX stockholders held earlier today. The proposal was approved with
approximately 98 percent of the votes cast by NYFIX stockholders voting in favor
of the acquisition.

The transaction is currently expected to close in the fourth quarter of 2009,
subject to the satisfaction of certain customary conditions. At the close of the
transaction, NYFIX stockholders will receive $1.675 in cash, without interest,
for each share of NYFIX common stock.

"We are pleased with the approval vote, which allows us to proceed with a
transaction that represents substantial value for NYFIX stockholders and will
provide tremendous benefits to our clients by combining two of the industry's
leading trading communities," said Howard Edelstein, chief executive officer of
NYFIX. "I also want to thank our employees for all their hard work, especially
over the past few years."

During that period, NYFIX overhauled its financial and technology infrastructure
and substantially grew its FIX trading community, which was originally launched
in 1997.

About NYFIX, Inc.

A pioneer in electronic trading solutions, NYFIX continues to transform trading
through innovation. The NYFIX Marketplace(TM) is a global community of trading
counterparties utilizing innovative services that optimize the business of
trading. NYFIX Millennium(R) provides the NYFIX Marketplace(TM) with new methods
of accessing liquidity. NYFIX also provides value-added informational and
analytical services and powerful tools for measuring execution quality. A
trusted business partner to the buy-side and sell-side alike, NYFIX enables
ultra low touch, low impact market access and end-to-end transaction processing.
For more information, please visit www.nyfix.com.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING INFORMATION

This Current Report on Form 8-K may contain forward-looking statements,
including forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
include, but are not limited to, statements concerning NYFIX's plans,
objectives, expectations and intentions, statements concerning the proposed
transaction between NYSE and NYFIX, and other statements that are not historical
or current facts. Forward-looking statements are based on NYFIX's current
expectations (except where otherwise noted) and involve risks and uncertainties
that could cause actual results to differ materially from those expressed or
implied in such forward-looking statements. Factors that could cause NYFIX's
results or future events to differ materially from current expectations include,
but are not limited to: the expected settlement of litigation relating to the
merger; the ability to consummate the proposed transaction; the impact of the
proposed transaction on customer and employee relations; operation disruptions
as a result of the transaction; the impact of current market conditions on the
financial stability of our clients including consolidations and closures; the
condition of the securities markets and the general economy; the impact of
regulation and regulatory actions; the effects of current, pending and future
legislation; actions and initiatives by both current and future competitors; and
other factors detailed in the proxy statement under the heading "Special Note
Regarding Forward-Looking Statements" and in NYFIX's Annual Report on Form 10-K
for the fiscal year ended December 31, 2008 and other periodic reports filed
with the U.S. Securities and Exchange Commission. In addition, these statements
are based on a number of assumptions that are subject to change. The inclusion
of forward-looking statements in this document should not be regarded as a
representation by NYFIX that the forward-looking statements will prove to be
correct. In addition, (except where otherwise noted) the forward-looking
statements included in this document represent NYFIX's views as of November 3,
2009. NYFIX anticipates that subsequent events and developments will cause
NYFIX's views to change. However, while NYFIX may elect to update these
forward-looking statements at some point in the future, NYFIX specifically
disclaims any obligation to do so. These forward-looking statements should not
be relied upon as representing NYFIX's views as of any date subsequent to
November 3, 2009 or such other date as specified with respect to a particular
forward-looking statement.

-0-
CONTACT:  NYFIX, Inc.
          FOR MEDIA
          Eric Soderberg
          (646) 525-3212

          ICR, Inc.
          FOR INVESTORS
          Don Duffy
          (203) 882-8215

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video