BM&F, Bovespa Merger Deal Approved

Brazilian Mercantile & Futures (BM&F) Exchange shareholders approved the merger with fellow Brazilian exchange Bovespa Holding, creating BM&F Bovespa, officials say. The deal creates the world's third-largest exchange and the second-largest exchange in the Americas by market value, according to officials. Shareholders also named a new 18-member board of directors in four extraordinary meetings. The two exchanges announced plans to merge last month in what was seen as a defensive deal against

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