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But analysts and investors cautioned that regulators may stymie the deal, as they have with previous merger attempts between energy producers.
The Canadian government has thwarted several merger attempts among the banks in recent years amid concerns that further consolidation would give them too much power and lead to huge job losses.
The agreement is the latest turn in the fitful consolidation among Germany's financial institutions -- a process in which nearly as many merger attempts have failed as have been completed.
Euronext and NYSE may be able to offer clearing of Euronext.liffe products across the Atlantic, but that is not part of their merger plans as they stand.With such complexities to mull over, all the political flak and wrangles over which regulator oversees what, the consolidators will be lucky to see a deal this side of Christmas, say veterans of previous merger attempts.
DealBook Nasdaq Chief Suggest Further Merger Attempts Unlikely | Robert Greifeld, Nasdaq's chief executive, spoke on Wednesday of the difficulties in actually making money from mergers between exchanges, putting to rest speculation that his firm might be about to re-enter the market after its failed bid for NYSE Euronext.
Currently, the system is achieving just 200 failures for every 100,000 simulated merger attempts, Shashua said.
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He rebuffed the merger attempt.
Telefonica has also recently weathered a failed merger attempt, with KPN Telecom of the Netherlands.
Last year, the company announced its third merger attempt, with fourth-place Sprint.
While an earlier merger attempt in 1878 failed, the union between the two schools was finally accomplished in 1891.
The carriers, whose 2014 merger attempt was blocked, will face scrutiny from three major agencies, including the Justice Department.
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