A PYMNTS Company

EU/US: Stock exchange merger rearranges business plan as approval pends

By  |  March 21, 2013

IntercontinentalExchange Inc and NYSE Euronext Inc have collectively modified their merger proposal and restructured their business plan to create a new holding company, resulting in both parties operating as subsidiaries under the new entity, to be called ICE Group. IntercontinentalExchange made a $8.2 billion deal to acquire NYSE Euronext last December. Those financial terms have not been changed, but common equity shareholders of IntercontinentalExchange will be able to own a hare of ICE Group. Reports last week announced IntercontinentalExchange was in the late stages of reaching an agreement with European regulators to divest four European exchanges currently owned by NYSE Euronext. The company expects to earn approval in the near future.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Zacks

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.