WASHINGTON (AP) - U.S. regulators have cleared the proposed merger of Deutsche Borse AG and NYSE Euronext Inc., which would create the world's biggest stock exchange operator, but the deal still needs European regulatory approval.
The Securities and Exchange Commission formally approved the $10 billion acquisition by Germany's Deutsche Borse of NYSE Euronext on Tuesday and made the decision public Wednesday.
The SEC said it reviewed the proposal carefully and found the merger would comply with securities laws and promote fair trading.
European Union officials have been closely examining whether the deal quashes competition, and they've shown few signs they'll allow it to proceed. NYSE Euronext owns the New York Stock Exchange and exchanges in Paris, Lisbon, Brussels and Amsterdam.
Both parties can walk away if the deal isn't completed by year's end.