ICE and NYSE Euronext tie-up will close Wednesday

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Associated Press

Posted on November 8, 2013 at 6:00 PM

Updated Friday, Nov 8 at 6:02 PM

NEW YORK (AP) — IntercontinentalExchange says regulators have approved its acquisition of NYSE Euronext and the deal will close Wednesday.

IntercontinentalExchange Inc., a futures exchange based in Atlanta, agreed to buy NYSE Euronext in December in a cash-and-stock deal then valued at $8 billion.

It was expected to close Nov. 4, but was delayed because some European regulatory agencies hadn't approved it yet.

The European Commission approved the deal in June, and the U.S. Securities and Exchange Commission did so in August.

ICE was founded in 2000 and has expanded rapidly through acquisitions. The combined company will be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group Inc., parent of the Chicago Board of Trade and the New York Mercantile Exchange.

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