Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
MERGERS AND ACQUISITIONS
REPORT: EURONEXT, NYSE CLOSE TO MERGER LONDON – Euronext and the New York Stock Exchange are set to announce a merger that will create the world’s first trans-Atlantic bourse, a British newspaper reported yesterday.
The all-stock merger will create the biggest trading platform in the world, valued at $20 billion, the Sunday Times reported.
The newspaper said executives representing both companies spent the weekend thrashing out final details of the deal, which is likely to be put to the Euronext board today, ahead of group’s annual meeting in Amsterdam on Tuesday.
– Associated Press
ENERGY
PATAKI SIGNS LEGISLATION TO CAP GAS TAX ALBANY, N.Y. – Consumers will save some money at the gas pump and earn tax credits for energy-efficient home heating systems under a bill signed into law by Governor Pataki.
The legislation, which takes effect June 1, caps the state sales tax on gasoline at 8 cents per gallon, the rate paid when gas costs $2 a gallon. Lawmakers estimate that it would save consumers $450 million a year. For a 20-gallon fill-up, the savings will be 80 cents if gas is $3 a gallon.
– Associated Press
