×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: ICE | derivatives | NYSE | takeover

ICE Plans to Complete NYSE Euronext Takeover Within Four Weeks

Thursday, 10 October 2013 10:49 AM EDT

IntercontinentalExchange Inc. said it expects to complete its acquisition of NYSE Euronext within four weeks as the two exchanges press European regulators for final approval.

IntercontinentalExchange plans to close the deal on Nov. 4, the company said in a statement. The 12-year-old energy and commodity futures bourse, known as ICE, is buying the 220-year-old exchange operator as the profitability of equities trading declines and derivatives generate more income.

The European Union approved the takeover on June 24 and Atlanta-based ICE said Oct. 2 that a committee of European regulators is “not minded to object” to the deal.

“The parties are now awaiting final approvals from the national authorities and regulatory bodies in each of the relevant European jurisdictions in order to complete the transaction,” Peter Lenardos, an analyst at RBC Capital Markets in London, wrote in a note to investors. “Since key approvals from the European Commission, the SEC and the Committee of European Regulators have been received, we expect the outstanding approvals to be granted and the deal to close as indicated.”

© Copyright 2022 Bloomberg News. All rights reserved.


Markets
IntercontinentalExchange Inc. said it expects to complete its acquisition of NYSE Euronext within four weeks as the two exchanges press European regulators for final approval.
ICE,derivatives,NYSE,takeover
173
2013-49-10
Thursday, 10 October 2013 10:49 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved