The first transatlantic stock exchange is almost a reality. With NYSE Group shareholders yesterday approving its takeover of the pan-European Euronext, and the relevant regulators happy in principle, only a final tender offer remains.

The takeover battle began with an intervention from President Jacques Chirac of France, and absurd demands for the NYSE to guarantee that the US Congress would not legislate in future to extend US corporate governance rules to all Euronext-listed companies. But when it counted, the bid saw barely any opposition.