Merge two $12B exchanges(NYX/Euronext). NYX $12B + EuroNext $12B = $5B Merged. Now thats what I call integration! I cannot see how DB would want to go thru this type of shareholder equity destruction. The integration savings did not materiazlie in the Euronext merger and doubt they will show up in a DB merger. Net result could be all three together only worth $5B. I will sell out when the hype gets ripe on merger rumor.