ICE To Buy NYSE In $8.2 Billion Deal
December 21 , 2012
Atlanta-based IntercontinentalExchange Inc (ICE) will now buy NYSE Euronext in a $8.2 billion deal - both in cash and stock. The deal comes in almost 10 months after a $9.5 billion attempt to merge with Germany’s Deutsche Börse failed to come through due to objections from European investors. The 200-year-old stock exchange is likely to retain its Wall Street, NYC, headquarters and is likely to add on a new office in New York by 2013. ICE has agreed to pay $33.12 a share, a 37% premium over Thursday's closing price of $24.05. With the close of the deal, NYSE Euronext shareholders are expected to own 36% of ICE shares. ICE is an options and futures exchange and by the merger the two expect $450 million in cost synergies within a couple years.
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