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New stock exchange announced with proposed merger

When people start a business in New Jersey, the hope is that it will become successful and grow overtime. In some cases, this growth is slow and hard fought. Other times, growth is quick and immense. In either case, this growth provides New Jersey businesses with the chance to increase profits and reach more people. A merger is a way for two or more businesses to grow by combining forces. In cases of mergers, businesses are creating a new entity designed to be bigger, stronger and better than the previous entities were alone.

Recently, BATS Global Markets Inc. and Direct Edge Holdings LLC announced their intention to merge together. BATS and Direct Edge are stock and equities exchange markets. They were both started by high volume investors who were looking for alternatives to the larger stock markets. When this merger is complete, this new company will be the second largest stock exchange in the country with 20.6 percent of the investment market share. Currently, the New York Stock Exchange — the largest stock market — has a 23 percent market share.

While the companies did not announce any of the financial arrangements that have been made with this agreement, they did say that they hoped to close the deal sometime during the first half of 2014. The new company is expected to have field offices in both New Jersey and New York.

This merger will provide the companies a chance to increase their power in the equities market, however, it is subject to regulatory approval. Without the necessary approvals, the deal will not be allowed to close. Mergers, such as this one, are complex business transactions with very specific legal requirements. Businesses should make sure they understand all the necessary steps and approvals required for a public merger before undertaking the deal.

Source: Kansas City Business Journal, “BATS will merge with Direct Edge, remain in KC area,” Aug. 26, 2013

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