ICE and NYSE Euronext Set Nov. 4 Closing Date for Merger
Oct 11th 2013 1:13PM
Updated Oct 11th 2013 1:15PM
IntercontinentalExchange will absorb the stock exchange it's listed on, NYSE Euronext , on Nov. 4. The two companies announced yesterdasy in a joint press release that they have set that date for the closing of ICE's acquisition of the bourse operator.
The closing is contingent on the companies obtaining the remaining approvals they need from European regulators to close the transaction.
Last December, IntercontinentalExchange announced it would pay $33.12 per share for NYSE Euronext. Shareholders were given a choice of taking that amount purely in cash, in IntercontinentalExchange stock, or a combination of both, subject to certain limitations. All told, the transaction was valued at roughly $8.2 billion.
In the press release, the companies said that NYSE Euronext shareholders have until 5 p.m. Eastern time on Oct. 31 to decide on whether and how they will tender their shares.
At the moment, NYSE Euronext has 243 million shares outstanding, and its stock most recently closed at $44.14 per share.
The article ICE and NYSE Euronext Set Nov. 4 Closing Date for Merger originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends NYSE Euronext. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.