ICE Gets Euronext Regulators Approval For NYSE Euronext Acquisition

(RTTNews) - Global markets operator Intercontinental Exchange Inc. (ICE) announced Thursday it has received approval from Euronext Regulators for its proposed acquisition of New York Stock Exchange parent NYSE Euronext, Inc. (NYX) that was agreed upon in December 2012.

ICE stated that, "the Chairmen's Committee of Euronext Regulators have issued a letter to ICE and NYSE Euronext indicating that they are "not minded to object" to the proposed merger between ICE and NYSE Euronext."

Following the achievement of the major milestone, the two companies now await final approvals from the national authorities and regulatory bodies in each of the relevant European jurisdictions in order to complete the deal.

Atlanta, Georgia-based ICE agreed in mid-December to acquire NYSE Euronext in cash and stock deal valued at about $8.2 billion, and planned an initial public offering to spin-off Euronext as a Continental European-based entity following the closure of the deal, if market conditions and European policy makers support the offering. The deal is expected to close in the second half of 2013, subject to shareholder and regulatory approvals.

The proposed deal will give ICE access to the NYSE Life derivatives market in London, providing the exchange operator with an entry point to fixed-income futures.

New York-based NYSE Euronext is the operator of the NYSE, NYSE Arca, Inc., and NYSE Amex LLC in the U.S., and five Europe-based exchanges that comprise Euronext N.V. The company was formed in April 2007 when New York-based NYSE Group acquired Paris-based Euronext NV in a $14.3 billion deal.

Meanwhile, Atlanta, Georgia-based ICE operates regulated exchanges, clearing houses, and over-the-counter or OTC markets for agricultural, credit, currency, emissions, energy, and equity index contracts.

The proposed merger came nearly two years after ICE and Nasdaq OMX Group launched a joint hostile $11.3 billion bid for the Big Board. However, the two companies were forced to retreat in May 2011 after their takeover plan was opposed by U.S. antitrust officials.

Meanwhile, NYSE Euronext plans to merge with Germany Stock Exchange Deutsche Boerse AG (DBOEF.PK, DBOEY.PK) was also scuttled by European Union regulators in February 2012. The two exchanges mutually agreed to terminate their merger deal that was agreed upon in February 2011.

Prior to that, London Stock Exchange in February 2011 agreed to combine with Toronto-based TMX Group, Inc. (X.TO, TSX_X.TO), and in October 2010, Singapore Exchange Ltd. agreed to buy Australia-based ASX Ltd. for about A$8.4 billion. Both the deals failed to materialize.

ICE closed Wednesday's regular trading session at $184.11, up $0.18 or 0.10% on a volume of 1.17 million shares, and NYX closed at $42.50, up $0.05 or 0.12% on a volume of 2.63 million shares.