NYSE Euronext Merger With ICE Postponed

Intercontinental Exchange (NYSE: ICE  ) investors will have to wait longer to see their company absorb bourse operator NYSE Euronext (UNKNOWN: NYX.DL  ) . The latter announced today that the two companies have postponed their impending merger from the previously announced Nov. 4 to "a later date."

Although that date wasn't specified, it will probably be in the very near future. NYSE Euronext said it and IntercontinentalExchange have agreed to the delay "to allow additional time for relevant European regulators and ministries to process and issue their approvals." The companies have received a letter from the Euronext College of Regulators -- an organization that includes each individual regulator of the Euronext markets -- indicating that it is not inclined to oppose the merger. However, the companies have chosen to wait for the remaining national regulatory approvals.

These are expected "in the coming days." Once they are received, the acquisition is expected to close within two business days.

Last December, IntercontinentalExchange launched a $33.12-per-share tender offer for NYSE Euronext, valuing the total transaction at approximately $8.2 billion. Although the anticipated date of the closing has shifted, the deadline for the latter's shareholders to accept the offer has not -- it remains 5 p.m. Eastern time tomorrow. Those investors have the option to sell their shares for cash, IntercontinentalExchange stock, or -- subject to certain limitations -- a combination of both.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2706439, ~/Articles/ArticleHandler.aspx, 12/19/2014 10:56:24 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement