Grab a hankie folks. IntercontinentalExchange, based in Atlanta, will pay $33.12
a share for the owner of the New York Stock Exchange, 38 percent above
yesterday’s closing price, according to a statement today. Both boards approved
the proposal and the companies expect to complete the transaction in the second
half of 2013. Last year, the U.S. blocked a joint hostile bid by
IntercontinentalExchange and Nasdaq OMX Group Inc. (NDAQ) for the New
York-based company on concern the combination would dominate U.S. stock
listings.
Merging NYSE Euronext, which owns the biggest exchanges by
value of listings in the U.S., France and the Netherlands, with the
second-largest futures market underscores both the growing importance of
derivatives and the diminishing influence of the 220-year-old NYSE…..
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