IntercontinentalExchange (ICE) Inc., an operator of global markets that focuses primarily on the trading of commodities, has agreed to acquire the owner of the New York Stock Exchange (NYSE) for $8.2 billion.
ICE and NYSE Euronext announced a definitive agreement Dec. 20 for a stock-and-cash transaction valued at $33.12 per NYSE Euronext share.
Under the agreement, which was unanimously approved by the boards of directors of both companies, NYSE Euronext shareholders would own approximately 36 percent of ICE shares following the completion of the transaction. The combined company would have dual headquarters in Atlanta, where ICE is currently based, and in New York City.
The merger is pending regulatory approvals. NYSE Euronext works primarily in equities and derivatives, with the company’s stock markets accounting for one-third of the world’s equities trading. ICE operates regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts.