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Article: American Stock Exchange Appoints the Investment Bank Morgan Stanley to Assist on Demutualization Plan.
- Article from:
- PR Newswire
- Article date:
- January 25, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Jan. 25 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) announced today that the Amex Board of Governors and The Amex Membership Corporation have appointed Morgan Stanley to advise it on the preparation and execution of a demutualization plan for the Exchange as well as potential strategic future initiatives.
A demutualization, if completed, would convert the Exchange from a not-for-profit corporation into a for-profit corporation. Amex seat owners would have the opportunity to vote on any proposed demutualization plan, which, if adopted, would convert their seats into shares.
Neal Wolkoff, Amex Chairman and Chief Executive Officer, ...