Deutsche Boerse and NYSE Euronext said on Tuesday they had struck a deal to form a global exchange operator.

The new company, which has yet to be named and will be incorporated in Amsterdam, will be headed by NYSE Chief Executive Duncan Niederauer, with Deutsche Boerse Chief Executive Reto Francioni taking the post of chairman, the companies said.

Deutsche Boerse shareholders are set to own 60 percent of the combined company with NYSE Euronext shareholders taking a 40 percent stake, the companies said.

Each NYSE Euronext share will be converted into 0.47 of a share in the new holding company. Deutsche Boerse shares will be converted into one share each of the new company.

The deal is expected to yield synergies of 300 million euros ($405.2 million), the companies said.

Last week, the companies unveiled the first details of a merger plan that would create the world's largest stock exchange, just hours after the London Stock Exchange would buy Canada's TMX, sparking a merger frenzy in the sector.

(Reporting by Edward Taylor)

Canada NYSE Euronext NYSE Euronext