McGraw-Hill's S&P Dow Jones Indices is undergoing a wardrobe change. After the close of trading on Friday, the service's iconic S&P 500 will be home to clothier Michael Kors (KORS +1.09%). The stock replaces NYSE Euronext (NYX +0.00%), which is being acquired by IntercontinentalExchange.
Perhaps fittingly, IntercontinentalExchange is an S&P 500 company.
IntercontinentalExchange first launched its buyout bid for NYSE Euronext last December with a $33.12-per-share offer. That valued the total transaction at approximately $8.2 billion. The merger has been set for Nov. 4; NYSE Euronext shareholders have until 5 p.m. Eastern time on Thursday to accept the offer. They have the option to do so in cash, IntercontinentalExchange stock, or -- subject to certain limitations -- a combination of both.
