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

By  |  March 21, 2013
EU/US: Stock exchange merger rearranges business plan as approval pends

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.

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