Atlanta-based IntercontinentalExchange, a global operator of commodities and derivatives exchanges, is preparing for the close of its $10.9 billion deal to acquire NYSE Euronext as it awaits final approval from several European countries.
ICE, as it is known, and NYSE Euronext have set a Nov. 4 closing date. The companies said the completion is contingent upon final clearances from financial regulators in Belgium, France, the Netherlands, Portugal and the United Kingdom.
Last week, ICE said it had reached "an important milestone" when the Chairmen's Committee of Euronext Regulators sent the company a letter indicating the group was "not minded to object" the proposed deal, first announced in December 2012 and initially valued at $8.2 billion.
The acquisition has already received clearance from the U.S. Securities and Exchange Commission and the European Commission.
The combined company would operate global exchanges and service transactions involving agricultural and energy commodities, credit derivatives, equities and equity derivatives, foreign exchange, and interest rates. NYSE Euronext was created by the merger of the New York Stock Exchange and Euronext in 2007.
ICE is already a powerhouse when it comes to operating global markets and serving as a clearinghouse for transactions.
According to Bloomberg, the merger would make the new company the world’s third-largest exchange, after Hong Kong Exchanges and CME Group Inc.
In trading Thursday on the New York Stock Exchange, ICE’s shares rose more than 2 percent to close at $193.16, up $4.20.
The companies said NYSE Euronext shareholders have until the close of business Oct. 31 to make their decisions on receiving either stock or cash or both as part of the deal, a deadline also contingent upon the timeline for remaining regulatory approvals of the overall deal.
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