On Westlaw Business Currents, we spotted an article titled “Capital Market Shift: From New York to Frankfurt, There’s No Place Like Home,” from Jesse R. Morton and Sebastian Bauer. They write about the increase in the number of European companies that have delisted from the New York Stock Exchange (NYSE), and moved to an exchange nearby, like the Frankfurt Stock Exchange (FSE). It’s the first of a two-part story.
Morton and Bauer write about the reasons for the delistings and the companies that have done it, including German companies BASF, Bayer, SGL Group, E.ON, and Allianz, as well as UK giants British Airways and Imperial Chemical:
Many of these companies seemed unabashed in disclosing their reasons for delisting. BASF, for example, in its July 2007 announcement, stated that its “decision to delist from the New York Stock Exchange underlines BASF’s continuous efforts to reduce complexity and costs.” Echoing that sentiment, only a few months later in September 2007, Bayer stated that “delisting and deregistration [from the NYSE] will enable us to achieve this with fewer formalities and therefore at lower cost.”
You can read the full post on Westlaw Business Currents.
Posted by Kevin Hunt in:
In Practice | Practice trends |
Share
