Last update: 29-Jul-2014 12:12 am
Tuesday, July 29, 2014
Trinidad & Tobago Guardian Online
You are here
ICE and NYSE Euronext tie-up will close Wednesday
NEW YORK—IntercontinentalExchange says regulators have approved its acquisition of NYSE Euronext and the deal will close Wednesday. IntercontinentalExchange Inc, a futures exchange based in Atlanta, agreed to buy NYSE Euronext in December in a cash-and-stock deal then valued at US$8 billion. ICE valued the deal at US$10.9 billion based on the November 1 closing price of its shares. The sale was expected to close November 4, but was delayed because some European regulatory agencies hadn’t approved it yet.
The European Commission approved the deal in June, and the US Securities and Exchange Commission did so in August. ICE was founded in 2000 and has expanded rapidly through acquisitions. The combined company will be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group Inc, parent of the Chicago Board of Trade and the New York Mercantile Exchange.