ICE and NYSE Euronext say buyout closing delayed
NEW YORK (AP) — IntercontinentalExchange says its acquisition of NYSE Euronext will not close Monday, because some European regulatory agencies still haven’t approved the deal.
ICE and NYSE Euronext, the parent of the New York Stock Exchange, say they expect the remaining national regulators to approve the deal in the coming days. The companies said the purchase should close two days after the final approval. ICE said it plans to announce a new closing date.
IntercontinentalExchange Inc., a futures exchange, agreed to buy NYSE Euronext in December. The transaction was valued at $8 billion when it was announced in December. The deal will also give ICE control of London-based Liffe, Europe’s second-largest derivatives market.
Earlier this month the companies said they expected the deal to close Nov. 4.
The U.S. Securities and Exchange Commission approved the deal on Aug. 16. The European Commission OK’d the deal on June 24.
ICE, based in Atlanta, was founded in 2000 and has expanded rapidly through acquisitions. The combined company would be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group Inc., parent of the Chicago Board of Trade, the New York Mercantile Exchange and other futures and options exchanges.
Shares of ICE fell $2.25 to $190.60 Wednesday and NYSE Euronext shares gave up 38 cents to $43.69. NYSE regained 4 cents in aftermarket trading.