Euronext agreed a $10 billion - or EUR7.8 bn - deal from Nyse in May, ousting a rival bid by Deutsche Börse, although the agreement still needs shareholder approval.

In a new move to win support from key stakeholders for its proposed merger with Euronext, the German exchange says the "relative attractiveness" of its proposal has further increased following trading activity over the last weeks. As of 4 August, Deutsche Börse's bid values each Euronext NV share at EUR72.17, compared with EUR68.82 under the Nyse proposal. The Börse offer now values Euronext at EUR8.04 bn.

The Börse is now calling for both proposals to be "placed on an equal footing" and submitted to the Euronext shareholders' meeting in order to allow shareholders to make "an informed decision".

Deutsche Börse says it is "continuing the dialogue with key stakeholders of both companies" over Euronext and has proposed statutes for a merged entity, which based are on its 19 June proposal for the structure of the new company.

"These statutes together with the proposal of equal representation by Deutsche Börse and Euronext when constituting the initial governance bodies and management team, also would ensure a smooth but effective integration process," says the statement.

But according to Financial Times report, Euronext has rebuffed Deutsche Börse's latest approach as "nothing new".

Furthermore, the report says that German politicians have expressed concern over the latest proposals from the Börse, saying they had gone too far in making concessions that would cost jobs in Frankfurt.

The German exchange modified its original bid for Euronext in June, making key concessions on technology and operations, including the integration of its IT division Euronext's existing technology joint venture with Atos.

The Börse also said it would streamline the group's trading infrastructure by adopting Euronext's NSC technology for cash equity trading and Eurex as the combined derivatives trading platform.